Pitcairn Co. Acquires 242 Shares of IDACORP, Inc. (NYSE:IDA)

Pitcairn Co. increased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,043 shares of the energy company’s stock after buying an additional 242 shares during the period. Pitcairn Co.’s holdings in IDACORP were worth $551,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IDA. Diversified Trust Co bought a new position in IDACORP during the fourth quarter worth about $704,000. Assenagon Asset Management S.A. acquired a new stake in shares of IDACORP in the 4th quarter valued at approximately $913,000. JPMorgan Chase & Co. boosted its stake in IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after acquiring an additional 22,485 shares during the last quarter. Apollon Wealth Management LLC acquired a new position in IDACORP during the fourth quarter valued at approximately $213,000. Finally, Van ECK Associates Corp increased its stake in IDACORP by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after purchasing an additional 2,056 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Bank of America lifted their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $120.50.

IDACORP Trading Down 4.4 %

NYSE:IDA opened at $114.47 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.84. The company has a market cap of $6.18 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business has a 50 day moving average price of $113.59 and a two-hundred day moving average price of $110.68.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $403.21 million. As a group, analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.01%. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

IDACORP 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.