Keybank National Association OH raised its position in IDACORP, Inc. (NYSE:IDA – Free Report) by 3.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,807 shares of the energy company’s stock after acquiring an additional 115 shares during the period. Keybank National Association OH’s holdings in IDACORP were worth $412,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of IDACORP in the 1st quarter valued at about $29,000. EverSource Wealth Advisors LLC purchased a new position in shares of IDACORP in the 4th quarter valued at about $33,000. Crewe Advisors LLC purchased a new position in shares of IDACORP in the 4th quarter valued at about $35,000. Belpointe Asset Management LLC purchased a new position in shares of IDACORP in the 4th quarter valued at about $35,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of IDACORP in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on IDA shares. StockNews.com started coverage on shares of IDACORP in a report on Sunday. They issued a “sell” rating for the company. Mizuho cut their price target on shares of IDACORP from $107.00 to $105.00 in a report on Wednesday, August 9th. Finally, Wells Fargo & Company dropped their target price on shares of IDACORP from $112.00 to $108.00 and set an “equal weight” rating for the company in a report on Friday, August 4th.
IDACORP Stock Performance
NYSE:IDA opened at $94.00 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.27 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average price of $101.61 and a two-hundred day moving average price of $104.84. IDACORP, Inc. has a twelve month low of $92.40 and a twelve month high of $113.37. The company has a market capitalization of $4.76 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 5.10 and a beta of 0.60.
IDACORP (NYSE:IDA – Get Free Report) last posted its earnings results on Thursday, August 3rd. The energy company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.13. The firm had revenue of $413.84 million during the quarter, compared to the consensus estimate of $359.32 million. IDACORP had a net margin of 15.31% and a return on equity of 9.67%. During the same period last year, the firm posted $1.27 EPS. As a group, research analysts expect that IDACORP, Inc. will post 5.03 earnings per share for the current fiscal year.
IDACORP Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 2nd will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.36%. IDACORP’s dividend payout ratio (DPR) is presently 58.63%.
IDACORP 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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