SG Americas Securities LLC grew its position in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 121.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,893 shares of the energy company’s stock after purchasing an additional 11,998 shares during the period. SG Americas Securities LLC’s holdings in IDACORP were worth $2,372,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of IDACORP during the fourth quarter worth about $33,000. Belpointe Asset Management LLC acquired a new stake in shares of IDACORP during the fourth quarter worth about $35,000. Crewe Advisors LLC acquired a new stake in shares of IDACORP during the fourth quarter worth about $35,000. Dark Forest Capital Management LP acquired a new stake in shares of IDACORP in the fourth quarter valued at $37,000. Finally, Cohen & Steers Inc. raised its stake in shares of IDACORP by 33.8% in the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares in the last quarter. 81.03% of the stock is currently owned by institutional investors and hedge funds.
IDACORP Stock Up 1.0 %
IDA opened at $105.94 on Friday. The business’s 50-day simple moving average is $104.32 and its 200-day simple moving average is $105.98. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.63 and a current ratio of 1.86. IDACORP, Inc. has a one year low of $93.53 and a one year high of $115.92. The stock has a market capitalization of $5.36 billion, a P/E ratio of 19.95, a price-to-earnings-growth ratio of 5.53 and a beta of 0.60.
IDACORP Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 2nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, August 1st. IDACORP’s payout ratio is currently 59.51%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on IDA shares. StockNews.com started coverage on IDACORP in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Mizuho reduced their target price on shares of IDACORP from $107.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday.
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.
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