Wells Fargo & Company MN Has $18.95 Million Stake in IDACORP, Inc. (NYSE:IDA)

Wells Fargo & Company MN raised its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,384 shares of the energy company's stock after acquiring an additional 4,527 shares during the period. Wells Fargo & Company MN owned approximately 0.33% of IDACORP worth $18,947,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its stake in IDACORP by 0.8% in the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after purchasing an additional 92 shares during the period. AMG National Trust Bank lifted its holdings in shares of IDACORP by 0.6% in the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock valued at $1,670,000 after purchasing an additional 98 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of IDACORP by 13.7% in the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock worth $91,000 after buying an additional 100 shares during the period. Perigon Wealth Management LLC grew its holdings in shares of IDACORP by 4.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after buying an additional 112 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its position in IDACORP by 4.4% during the fourth quarter. HighPoint Advisor Group LLC now owns 2,720 shares of the energy company's stock valued at $303,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 89.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Jefferies Financial Group upgraded IDACORP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 2nd. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Bank of America raised their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Finally, UBS Group boosted their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, IDACORP has an average rating of "Hold" and an average price target of $120.50.

IDACORP Trading Up 1.0 %

Shares of NYSE IDA traded up $1.20 during mid-day trading on Friday, hitting $119.18. The company's stock had a trading volume of 272,311 shares, compared to its average volume of 328,622. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 21.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The company's fifty day simple moving average is $115.09 and its 200-day simple moving average is $111.70. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. IDACORP's dividend payout ratio (DPR) is 62.77%.

About IDACORP

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.