PDT Partners LLC Acquires Shares of 2,700 IDACORP, Inc. (NYSE:IDA)

PDT Partners LLC bought a new stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,700 shares of the energy company's stock, valued at approximately $295,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company's stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc grew its position in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company's stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky increased its holdings in IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company's stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in IDACORP in the 3rd quarter valued at $53,000. Finally, Jones Financial Companies Lllp raised its position in IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock valued at $56,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IDA shares. Wells Fargo & Company raised their target price on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Bank of America increased their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Morgan Stanley upped their price objective on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. UBS Group upped their price target on IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Guggenheim raised their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $123.57.

IDACORP Trading Down 0.3 %

IDACORP stock traded down $0.36 during mid-day trading on Wednesday, hitting $116.31. 491,226 shares of the stock were exchanged, compared to its average volume of 330,465. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm's fifty day simple moving average is $116.14 and its two-hundred day simple moving average is $113.00. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same period in the prior year, the business posted $0.95 earnings per share. Analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.96%. IDACORP's dividend payout ratio (DPR) is presently 61.10%.

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.