2,896 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC bought a new position in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 2,896 shares of the energy company’s stock, valued at approximately $316,000.

A number of other large investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the period. State Street Corp increased its position in shares of IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after acquiring an additional 86,642 shares during the period. Geode Capital Management LLC increased its position in shares of IDACORP by 3.9% in the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after acquiring an additional 36,063 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after acquiring an additional 35,651 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of IDACORP by 14.2% in the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock valued at $59,509,000 after acquiring an additional 67,568 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $115.26 on Friday. IDACORP, Inc. has a 1 year low of $86.47 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’s 50-day moving average is $110.25 and its 200 day moving average is $108.29. The stock has a market capitalization of $6.22 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.32 and a beta of 0.65.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. On average, sell-side analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.98%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is currently 62.77%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, Jefferies Financial Group reduced their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $116.20.

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.