Arrien Investments Inc. Takes $293,000 Position in IDACORP, Inc. (NYSE:IDA)

Arrien Investments Inc. acquired a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,668 shares of the energy company’s stock, valued at approximately $293,000.

Other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in IDACORP in the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Independence Bank of Kentucky boosted its position in IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after acquiring an additional 117 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IDA. Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Bank of America increased their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Jefferies Financial Group lowered their target price on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $118.20.

IDACORP Stock Up 0.9 %

IDACORP stock opened at $116.05 on Monday. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm has a market capitalization of $6.26 billion, a PE ratio of 21.18, a P/E/G ratio of 2.32 and a beta of 0.59. The company’s 50-day moving average is $111.52 and its 200-day moving average is $109.41. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

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

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio is 62.77%.

About IDACORP

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.