Russell Investments Group Ltd. Increases Position in IDACORP, Inc. (NYSE:IDA)

Russell Investments Group Ltd. raised its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 49.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,316 shares of the energy company's stock after buying an additional 34,049 shares during the period. Russell Investments Group Ltd. owned about 0.20% of IDACORP worth $10,158,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IDA. Headlands Technologies LLC purchased a new stake in shares of IDACORP in the third quarter valued at approximately $40,000. CWM LLC boosted its holdings in shares of IDACORP by 22.2% in the fourth quarter. CWM LLC now owns 992 shares of the energy company's stock valued at $98,000 after purchasing an additional 180 shares during the period. Signaturefd LLC boosted its holdings in shares of IDACORP by 24.2% in the third quarter. Signaturefd LLC now owns 1,175 shares of the energy company's stock valued at $110,000 after purchasing an additional 229 shares during the period. Selway Asset Management purchased a new stake in shares of IDACORP in the third quarter valued at approximately $118,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of IDACORP by 371.7% in the third quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company's stock valued at $119,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IDA shares. TheStreet lowered IDACORP from a "b-" rating to a "c+" rating in a report on Thursday, February 15th. Morgan Stanley boosted their price objective on shares of IDACORP from $92.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 21st. StockNews.com raised shares of IDACORP to a "sell" rating in a research note on Friday, April 26th. Mizuho reduced their price objective on shares of IDACORP from $99.00 to $88.00 and set a "neutral" rating for the company in a research note on Tuesday, March 5th. Finally, Guggenheim downgraded shares of 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. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $94.60.

IDACORP Stock Down 0.1 %

Shares of IDA stock traded down $0.05 during trading hours on Monday, reaching $96.15. 260,054 shares of the company's stock were exchanged, compared to its average volume of 376,585. The stock's 50 day moving average is $91.46 and its 200-day moving average is $93.96. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 19.32 and a beta of 0.55. The company has a current ratio of 1.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $111.26.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.06). The business had revenue of $448.94 million for the quarter, compared to analyst estimates of $441.21 million. IDACORP had a return on equity of 8.71% and a net margin of 14.18%. During the same period in the previous year, the company posted $1.11 earnings per share. Analysts predict that IDACORP, Inc. will post 5.32 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP's dividend payout ratio (DPR) is presently 66.67%.

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.