Aberdeen Group plc Has $17.05 Million Stake in IDACORP, Inc. $IDA

Aberdeen Group plc lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 12.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,454 shares of the energy company’s stock after buying an additional 14,476 shares during the quarter. Aberdeen Group plc owned about 0.24% of IDACORP worth $17,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in IDA. Assetmark Inc. raised its stake in shares of IDACORP by 7.6% in the third quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock worth $149,000 after acquiring an additional 80 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in IDACORP by 33.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after buying an additional 96 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of IDACORP by 31.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock valued at $53,000 after buying an additional 97 shares during the period. Securian Asset Management Inc. raised its position in shares of IDACORP by 2.5% during the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock worth $476,000 after acquiring an additional 100 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of IDACORP by 2.2% during the third quarter. D.A. Davidson & CO. now owns 5,106 shares of the energy company’s stock worth $675,000 after acquiring an additional 111 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Down 1.2%

NYSE:IDA opened at $141.47 on Thursday. The business’s 50-day simple moving average is $131.55 and its 200-day simple moving average is $129.76. IDACORP, Inc. has a fifty-two week low of $108.15 and a fifty-two week high of $145.94. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. The stock has a market capitalization of $7.65 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.78 and a beta of 0.59.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio is currently 60.48%.

Analysts Set New Price Targets

Several research firms recently issued reports on IDA. Morgan Stanley decreased their price target on IDACORP from $146.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Mizuho raised their target price on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. BTIG Research restated a “buy” rating and issued a $156.00 price objective on shares of IDACORP in a report on Friday, January 30th. Finally, Wells Fargo & Company lowered shares of IDACORP from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $129.00 to $118.00 in a report on Tuesday, January 20th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.67.

IDACORP Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.