Sumitomo Mitsui Trust Holdings Inc. Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Sumitomo Mitsui Trust Holdings Inc. purchased a new position in IDACORP, Inc. (NYSE:IDA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,820 shares of the energy company’s stock, valued at approximately $277,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of IDACORP in the third quarter worth about $40,000. Spirit of America Management Corp NY acquired a new stake in shares of IDACORP in the third quarter worth about $56,000. Signaturefd LLC lifted its position in shares of IDACORP by 24.2% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock worth $110,000 after purchasing an additional 229 shares during the last quarter. Selway Asset Management acquired a new position in shares of IDACORP during the 3rd quarter worth about $118,000. Finally, CENTRAL TRUST Co lifted its position in shares of IDACORP by 371.7% during the 3rd quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock worth $119,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company cut their price objective on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. TheStreet cut IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. StockNews.com raised IDACORP to a “sell” rating in a research report on Friday. Mizuho cut their price objective on IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Finally, Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $93.80.

IDACORP Trading Down 0.1 %

Shares of IDA opened at $94.58 on Friday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $112.91. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. The stock’s 50-day moving average price is $90.75 and its 200 day moving average price is $94.05.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The firm had revenue of $411.95 million for the quarter, compared to analyst estimates of $429.84 million. During the same period in the previous year, the company posted $0.83 earnings per share. As a group, research analysts predict that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be paid a $0.83 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.32 annualized dividend and a dividend yield of 3.51%. IDACORP’s dividend payout ratio is currently 64.59%.

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.