Ceredex Value Advisors LLC Takes Position in IDACORP, Inc. (NYSE:IDA)

Ceredex Value Advisors LLC acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 170,450 shares of the energy company's stock, valued at approximately $16,759,000. Ceredex Value Advisors LLC owned approximately 0.34% of IDACORP as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of IDA. Raymond James Financial Services Advisors Inc. raised its stake in shares of IDACORP by 2.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,979 shares of the energy company's stock worth $1,266,000 after buying an additional 260 shares in the last quarter. American Century Companies Inc. raised its position in shares of IDACORP by 10.9% during the first quarter. American Century Companies Inc. now owns 5,751 shares of the energy company's stock worth $663,000 after purchasing an additional 564 shares during the period. Great West Life Assurance Co. Can raised its position in shares of IDACORP by 7.2% during the first quarter. Great West Life Assurance Co. Can now owns 27,426 shares of the energy company's stock worth $3,251,000 after purchasing an additional 1,853 shares during the period. Yousif Capital Management LLC raised its position in shares of IDACORP by 2.6% during the first quarter. Yousif Capital Management LLC now owns 27,046 shares of the energy company's stock worth $3,120,000 after purchasing an additional 690 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of IDACORP by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 376,712 shares of the energy company's stock worth $43,459,000 after purchasing an additional 32,219 shares during the period. Institutional investors own 89.10% of the company's stock.

IDACORP Stock Up 2.1 %

IDACORP stock traded up $1.93 during mid-day trading on Monday, hitting $93.20. The company's stock had a trading volume of 442,833 shares, compared to its average volume of 387,299. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $112.96. The firm's 50 day moving average is $90.19 and its 200 day moving average is $94.23. The company has a market cap of $4.72 billion, a PE ratio of 18.13 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The company had revenue of $411.95 million for the quarter, compared to analyst estimates of $429.84 million. During the same period in the prior year, the firm posted $0.83 EPS. On average, analysts anticipate that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 5th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.56%. The ex-dividend date was Friday, February 2nd. IDACORP's payout ratio is currently 64.59%.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of recent analyst reports. Mizuho cut their target price on IDACORP from $99.00 to $88.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 5th. Morgan Stanley boosted their target price on IDACORP from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 21st. TheStreet lowered IDACORP from a "b-" rating to a "c+" rating in a research report on Thursday, February 15th. Guggenheim downgraded IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 price objective for the company. in a research note on Monday, January 22nd. Finally, Wells Fargo & Company reduced their price objective on IDACORP from $100.00 to $94.00 and set an "equal weight" rating for the company in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $93.80.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.