Susquehanna Fundamental Investments LLC Invests $6.92 Million in IDACORP, Inc. (NYSE:IDA)

Susquehanna Fundamental Investments LLC purchased a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 63,336 shares of the energy company's stock, valued at approximately $6,921,000. Susquehanna Fundamental Investments LLC owned about 0.12% of IDACORP as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IDA. Wellington Management Group LLP boosted its holdings in IDACORP by 43.3% during the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock worth $374,279,000 after buying an additional 1,035,133 shares during the last quarter. Reaves W H & Co. Inc. raised its position in shares of IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company's stock valued at $109,103,000 after acquiring an additional 429,276 shares during the period. Raymond James Financial Inc. bought a new position in IDACORP during the 4th quarter worth approximately $37,104,000. T. Rowe Price Investment Management Inc. grew its holdings in IDACORP by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock valued at $208,692,000 after purchasing an additional 166,864 shares during the period. Finally, Vanguard Group Inc. increased its stake in IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock valued at $660,786,000 after purchasing an additional 77,230 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a report on Monday, March 3rd. Morgan Stanley raised their price target on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. UBS Group lifted their price target on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $123.57.

IDACORP Stock Up 1.0 %

IDA traded up $1.13 during trading on Friday, reaching $117.43. 305,815 shares of the stock were exchanged, compared to its average volume of 330,032. The stock has a market cap of $6.34 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock's 50 day moving average price is $116.09 and its two-hundred day moving average price is $112.83. IDACORP, Inc. has a twelve month low of $90.64 and a twelve month high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The company had revenue of $432.46 million for the quarter, compared to analysts' expectations of $442.24 million. During the same period in the prior year, the firm earned $0.95 EPS. Equities analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Monday, May 5th. IDACORP's payout ratio is presently 62.77%.

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.