EverSource Wealth Advisors LLC Boosts Holdings in IDACORP, Inc. (NYSE:IDA)

EverSource Wealth Advisors LLC raised its holdings in shares of IDACORP, Inc. (NYSE:IDAFree Report) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 690 shares of the energy company’s stock after buying an additional 112 shares during the period. EverSource Wealth Advisors LLC’s holdings in IDACORP were worth $68,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in IDACORP by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,194,847 shares of the energy company’s stock worth $117,477,000 after acquiring an additional 273,560 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of IDACORP during the 3rd quarter valued at $101,858,000. American Trust lifted its stake in shares of IDACORP by 13.7% during the 3rd quarter. American Trust now owns 828,208 shares of the energy company’s stock valued at $77,562,000 after buying an additional 100,016 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in IDACORP by 10.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock worth $63,829,000 after buying an additional 61,546 shares during the period. Finally, River Road Asset Management LLC increased its stake in IDACORP by 335.2% in the 3rd quarter. River Road Asset Management LLC now owns 632,457 shares of the energy company’s stock worth $59,230,000 after buying an additional 487,134 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Up 0.7 %

Shares of IDA opened at $95.61 on Monday. The stock has a market capitalization of $5.09 billion, a PE ratio of 19.20 and a beta of 0.55. The company’s fifty day moving average is $93.91 and its 200 day moving average is $94.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $106.69.

IDACORP (NYSE:IDAGet Free Report) last posted its earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The business had revenue of $448.94 million during the quarter, compared to the consensus estimate of $441.21 million. IDACORP had a return on equity of 8.71% and a net margin of 14.18%. During the same quarter last year, the firm earned $1.11 earnings per share. Sell-side analysts expect that IDACORP, Inc. will post 5.35 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is 66.67%.

Insider Transactions at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total transaction of $142,635.00. Following the sale, the vice president now owns 1,650 shares in the company, valued at approximately $156,898.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IDA shares. StockNews.com raised IDACORP to a “sell” rating in a research note on Friday, April 26th. Wells Fargo & Company lifted their price objective on shares of IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Morgan Stanley upped their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Mizuho increased their price objective on shares of IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.80.

View Our Latest Analysis on IDACORP

IDACORP Company 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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