Signaturefd LLC Has $77,000 Stake in IDACORP, Inc. (NYSE:IDA)

Signaturefd LLC decreased its stake in IDACORP, Inc. (NYSE:IDA) by 33.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 787 shares of the energy company’s stock after selling 388 shares during the quarter. Signaturefd LLC’s holdings in IDACORP were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in IDACORP by 12.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,951 shares of the energy company’s stock valued at $880,000 after buying an additional 973 shares during the period. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of IDACORP in the fourth quarter worth about $277,000. Louisiana State Employees Retirement System bought a new stake in shares of IDACORP in the fourth quarter worth about $1,396,000. Cerity Partners LLC increased its holdings in shares of IDACORP by 85.5% in the fourth quarter. Cerity Partners LLC now owns 4,530 shares of the energy company’s stock worth $446,000 after acquiring an additional 2,088 shares in the last quarter. Finally, Custom Index Systems LLC bought a new stake in shares of IDACORP in the fourth quarter worth about $503,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IDA shares. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Wells Fargo & Company decreased their price objective on IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. Mizuho decreased their price objective on IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Guggenheim downgraded IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research note on Monday, January 22nd. Finally, Morgan Stanley raised their price target on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $93.80.

IDACORP Stock Up 1.3 %

IDA stock opened at $96.00 on Thursday. 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 business has a 50 day moving average price of $91.10 and a two-hundred day moving average price of $93.97. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 18.50 and a beta of 0.56. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $112.64.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The company had revenue of $411.95 million during the quarter, compared to analysts’ expectations of $429.84 million. During the same period last year, the firm posted $0.83 earnings per share. Analysts anticipate that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.46%. IDACORP’s payout ratio is 64.59%.

About IDACORP

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.