Allspring Global Investments Holdings LLC Has $24.19 Million Position in IDACORP, Inc. (NYSE:IDA)

Allspring Global Investments Holdings LLC lifted its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 74.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,072 shares of the energy company's stock after purchasing an additional 105,272 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.49% of IDACORP worth $24,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IDA. Raymond James Financial Services Advisors Inc. lifted its position in shares of IDACORP by 2.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,979 shares of the energy company's stock worth $1,266,000 after purchasing an additional 260 shares in the last quarter. American Century Companies Inc. lifted 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 in the last quarter. Great West Life Assurance Co. Can lifted 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 in the last quarter. Yousif Capital Management LLC lifted 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted 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 in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Trading Down 1.6 %

IDA traded down $1.44 during midday trading on Friday, hitting $90.22. The company's stock had a trading volume of 318,852 shares, compared to its average volume of 419,351. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. The firm has a market cap of $4.57 billion, a P/E ratio of 17.55 and a beta of 0.56. The firm has a 50-day moving average price of $90.07 and a two-hundred day moving average price of $94.10. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $112.96.

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

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.68%. IDACORP's dividend payout ratio (DPR) is presently 64.59%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IDA. Wells Fargo & Company reduced their target price on shares of IDACORP from $100.00 to $94.00 and set an "equal weight" rating on the stock in a report on Friday, February 16th. Mizuho reduced their target price on shares of IDACORP from $99.00 to $88.00 and set a "neutral" rating on the stock in a report on Tuesday, March 5th. Guggenheim cut shares of IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 target price on the stock. in a report on Monday, January 22nd. TheStreet cut shares of IDACORP from a "b-" rating to a "c+" rating in a report on Thursday, February 15th. Finally, Morgan Stanley raised their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.