Assetmark Inc. Has $3.56 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

Posted by Defense World Staff on Aug 8th, 2023

Assetmark Inc. lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,851 shares of the energy company’s stock after buying an additional 2,038 shares during the period. Assetmark Inc. owned about 0.06% of IDACORP worth $3,559,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in IDACORP by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 6,118,190 shares of the energy company’s stock worth $605,762,000 after acquiring an additional 111,296 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of IDACORP by 3.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,031,531 shares of the energy company’s stock valued at $326,951,000 after buying an additional 91,714 shares during the last quarter. State Street Corp grew its position in shares of IDACORP by 15.2% in the 1st quarter. State Street Corp now owns 1,674,867 shares of the energy company’s stock valued at $193,213,000 after buying an additional 221,072 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of IDACORP by 3.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 946,307 shares of the energy company’s stock valued at $109,166,000 after buying an additional 32,913 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of IDACORP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 845,518 shares of the energy company’s stock valued at $91,189,000 after buying an additional 18,644 shares during the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.

IDACORP Stock Up 0.4 %

Shares of IDACORP stock opened at $99.02 on Tuesday. IDACORP, Inc. has a one year low of $93.53 and a one year high of $115.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.27. The stock’s 50-day moving average is $103.55 and its 200 day moving average is $105.58. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 5.29 and a beta of 0.60.

IDACORP (NYSE:IDA – Get Free Report) last announced its earnings results on Thursday, August 3rd. The energy company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.22 by $0.13. IDACORP had a return on equity of 9.67% and a net margin of 15.31%. The company had revenue of $413.84 million for the quarter, compared to analyst estimates of $359.32 million. During the same quarter in the prior year, the company earned $1.27 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 5.07 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Wednesday, August 2nd will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, August 1st. IDACORP’s dividend payout ratio (DPR) is currently 58.63%.

Analysts Set New Price Targets

A number of equities research analysts have commented on IDA shares. Wells Fargo & Company reduced their price target on IDACORP from $112.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Friday. StockNews.com upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Mizuho cut their target price on IDACORP from $107.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st.

View Our Latest Report on IDA

IDACORP Company Profile

(Free Report)

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.