Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in IDACORP, Inc. (NYSE:IDA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of IDACORP, Inc. (NYSE:IDA) by 12.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 8,951 shares of the energy company’s stock after purchasing an additional 973 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IDACORP were worth $880,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IDA. Headlands Technologies LLC bought a new position in IDACORP in the 3rd quarter valued at approximately $40,000. Signaturefd LLC lifted its stake in IDACORP by 24.2% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock valued at $110,000 after acquiring an additional 229 shares during the period. Selway Asset Management purchased a new stake in shares of IDACORP during the 3rd quarter valued at about $118,000. CENTRAL TRUST Co grew its stake in shares of IDACORP by 371.7% in the third quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock worth $119,000 after acquiring an additional 1,000 shares during the period. Finally, Blue Trust Inc. lifted its position in IDACORP by 13.5% during the fourth quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock valued at $129,000 after purchasing an additional 164 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

IDACORP stock opened at $94.60 on Monday. The firm has a market capitalization of $4.80 billion, a PE ratio of 18.40 and a beta of 0.56. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $112.91. The firm has a 50-day moving average price of $90.86 and a 200-day moving average price of $93.99. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, topping 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 the consensus estimate of $429.84 million. During the same period in the prior year, the business posted $0.83 earnings per share. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.32 EPS for the current year.

IDACORP Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 22nd. StockNews.com raised IDACORP to a “sell” rating in a research note on Friday. Morgan Stanley raised their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Wells Fargo & Company cut their price target on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. Finally, TheStreet lowered IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.80.

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.