Victory Capital Management Inc. Has $117.48 Million Holdings in IDACORP, Inc. (NYSE:IDA)

Victory Capital Management Inc. lifted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 29.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,847 shares of the energy company's stock after purchasing an additional 273,560 shares during the quarter. Victory Capital Management Inc. owned about 2.36% of IDACORP worth $117,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDA. Jackson Creek Investment Advisors LLC purchased a new position in shares of IDACORP in the fourth quarter worth $302,000. Anchor Capital Advisors LLC raised its position in shares of IDACORP by 1.9% in the fourth quarter. Anchor Capital Advisors LLC now owns 156,530 shares of the energy company's stock worth $15,390,000 after acquiring an additional 2,880 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of IDACORP by 49.2% during the 4th quarter. Russell Investments Group Ltd. now owns 103,316 shares of the energy company's stock worth $10,158,000 after acquiring an additional 34,049 shares in the last quarter. Alaska Permanent Fund Corp grew its position in shares of IDACORP by 1.0% during the 4th quarter. Alaska Permanent Fund Corp now owns 124,405 shares of the energy company's stock valued at $12,232,000 after acquiring an additional 1,189 shares during the period. Finally, CWM LLC increased its stake in shares of IDACORP by 22.2% in the 4th quarter. CWM LLC now owns 992 shares of the energy company's stock valued at $98,000 after purchasing an additional 180 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. StockNews.com raised shares of IDACORP to a "sell" rating in a report on Friday, April 26th. Wells Fargo & Company boosted their target price on shares of IDACORP from $94.00 to $98.00 and gave the company an "equal weight" rating in a report on Friday. TheStreet lowered shares of IDACORP from a "b-" rating to a "c+" rating in a research report on Thursday, February 15th. Guggenheim cut IDACORP from a "buy" rating to a "neutral" rating and set a $93.00 price target on the stock. in a research note on Monday, January 22nd. Finally, Morgan Stanley increased their target price on IDACORP from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $94.60.

IDACORP Stock Performance

NYSE IDA traded up $0.87 on Friday, hitting $96.22. 480,824 shares of the company's stock were exchanged, compared to its average volume of 377,940. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 18.72 and a beta of 0.55. The firm's 50-day moving average price is $91.33 and its two-hundred day moving average price is $93.99. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $112.64. 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 (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06). The firm had revenue of $448.94 million during the quarter, compared to analysts' expectations of $441.21 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period in the previous year, the business earned $1.11 earnings per share. On average, research analysts expect that IDACORP, Inc. will post 5.32 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be paid a $0.83 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 3.45%. IDACORP's payout ratio is 64.59%.

IDACORP 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.