SVB Wealth LLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,856 shares of the energy company’s stock, valued at approximately $200,000.
Several other institutional investors have also added to or reduced their stakes in the company. FourThought Financial LLC boosted its holdings in shares of IDACORP by 125.4% in the 3rd quarter. FourThought Financial LLC now owns 257 shares of the energy company’s stock worth $25,000 after purchasing an additional 143 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of IDACORP in the 4th quarter worth approximately $33,000. Crewe Advisors LLC purchased a new position in shares of IDACORP in the 4th quarter worth approximately $35,000. Belpointe Asset Management LLC purchased a new position in shares of IDACORP in the 4th quarter worth approximately $35,000. Finally, Cohen & Steers Inc. boosted its holdings in shares of IDACORP by 33.8% in the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 79.38% of the company’s stock.
Analyst Ratings Changes
IDA has been the subject of a number of recent research reports. 1-800-FLOWERS.COM reiterated a “maintains” rating on shares of IDACORP in a report on Friday, May 5th. Mizuho cut IDACORP from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $117.00 to $107.00 in a report on Tuesday, April 4th. Wells Fargo & Company dropped their price objective on IDACORP from $113.00 to $110.00 and set an “equal weight” rating for the company in a report on Friday, February 17th. Finally, StockNews.com initiated coverage on IDACORP in a report on Thursday, May 18th. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, IDACORP has an average rating of “Hold” and a consensus price target of $106.67.
IDACORP Price Performance
IDA opened at $103.36 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average of $108.79 and a 200 day moving average of $106.81. The stock has a market cap of $5.23 billion, a P/E ratio of 19.47, a PEG ratio of 5.55 and a beta of 0.62. IDACORP, Inc. has a 52-week low of $93.53 and a 52-week high of $115.92.
IDACORP (NYSE:IDA – Get Rating) last issued its earnings results on Thursday, May 4th. The energy company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $429.66 million during the quarter, compared to analyst estimates of $346.62 million. IDACORP had a return on equity of 9.65% and a net margin of 15.54%. During the same period in the previous year, the company posted $0.91 EPS. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.07 EPS for the current year.
IDACORP Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Wednesday, May 3rd will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, May 2nd. IDACORP’s dividend payout ratio (DPR) is presently 59.51%.
IDACORP Company Profile
IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. It operates through the Utilities Operations and All Other segments. The Utilities Operations segment focuses on the production of electricity. The All Others segment consists of IFS’s investments in affordable housing developments and historic rehabilitation projects and Ida-West’s joint venture investments in small hydropower generation projects.
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