Hartree Partners LP Takes Position in IDACORP, Inc. (NYSE:IDA)

Hartree Partners LP acquired a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,600 shares of the energy company’s stock, valued at approximately $940,000.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in shares of IDACORP in the 3rd quarter valued at about $25,000. MassMutual Private Wealth & Trust FSB raised its stake in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Versant Capital Management Inc raised its stake in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after buying an additional 301 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after buying an additional 225 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in IDACORP during the 4th quarter valued at $45,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Up 0.5 %

NYSE:IDA opened at $115.08 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.34 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 $120.42. The company has a market cap of $6.21 billion, a PE ratio of 21.00, a P/E/G ratio of 2.32 and a beta of 0.59. The company’s 50 day moving average is $112.80 and its two-hundred day moving average is $110.19.

IDACORP (NYSE:IDA) last announced its quarterly earnings data 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 return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. Analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IDA. Jefferies Financial Group reduced their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America boosted their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $120.50.

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.