Ballentine Partners LLC Takes Position in IDACORP, Inc. (NYSE:IDA)

Ballentine Partners LLC bought a new stake in IDACORP, Inc. (NYSE:IDAFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,860 shares of the energy company’s stock, valued at approximately $313,000.

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in IDACORP by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock worth $64,583,000 after buying an additional 47,527 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of IDACORP by 37.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,078 shares of the energy company’s stock worth $472,000 after acquiring an additional 1,384 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of IDACORP by 78.8% during the 2nd quarter. Blair William & Co. IL now owns 4,375 shares of the energy company’s stock worth $408,000 after acquiring an additional 1,928 shares during the last quarter. Hsbc Holdings PLC bought a new stake in IDACORP in the 2nd quarter valued at $243,000. Finally, Pacer Advisors Inc. lifted its holdings in IDACORP by 55.2% during the 2nd quarter. Pacer Advisors Inc. now owns 11,704 shares of the energy company’s stock valued at $1,090,000 after purchasing an additional 4,162 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 0.5 %

Shares of NYSE:IDA opened at $109.01 on Friday. The business’s 50 day simple moving average is $112.23 and its 200 day simple moving average is $105.93. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a market capitalization of $5.81 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.21 and a beta of 0.65.

IDACORP (NYSE:IDAGet Free Report) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period last year, the company posted $2.07 earnings per share. On average, research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 63.82%.

Analyst Ratings Changes

IDA has been the topic of several research analyst reports. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. Morgan Stanley boosted their price objective on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Wells Fargo & Company increased their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $114.60.

View Our Latest Analysis on IDACORP

IDACORP 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.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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