Swiss National Bank Lowers Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Swiss National Bank trimmed its holdings in IDACORP, Inc. (NYSE:IDAGet Rating) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 119,100 shares of the energy company’s stock after selling 300 shares during the period. Swiss National Bank’s holdings in IDACORP were worth $12,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IDA. EverSource Wealth Advisors LLC purchased a new stake in IDACORP in the second quarter valued at approximately $31,000. TCI Wealth Advisors Inc. boosted its holdings in shares of IDACORP by 2,500.0% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 312 shares of the energy company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Selective Wealth Management Inc. grew its stake in shares of IDACORP by 133.3% during the 2nd quarter. Selective Wealth Management Inc. now owns 350 shares of the energy company’s stock valued at $37,000 after buying an additional 200 shares during the period. Trust Co. of Vermont acquired a new stake in shares of IDACORP during the 2nd quarter worth $37,000. Finally, Cohen & Steers Inc. raised its position 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 buying an additional 101 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IDA shares. Wells Fargo & Company boosted their price target on IDACORP from $99.00 to $102.00 and gave the company an “equal weight” rating in a research report on Friday, November 4th. Bank of America cut IDACORP from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $115.00 to $103.00 in a report on Monday, November 7th. They noted that the move was a valuation call. Finally, initiated coverage on shares of IDACORP in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

IDACORP Stock Up 3.4 %

Shares of NYSE IDA opened at $105.53 on Friday. The stock has a fifty day moving average price of $102.30 and a 200 day moving average price of $105.82. The company has a current ratio of 1.39, a quick ratio of 1.19 and a debt-to-equity ratio of 0.74. IDACORP, Inc. has a 12-month low of $93.53 and a 12-month high of $118.92. The company has a market cap of $5.34 billion, a P/E ratio of 21.41, a P/E/G ratio of 5.91 and a beta of 0.59.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 2nd will be paid a $0.79 dividend. The ex-dividend date is Tuesday, November 1st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from IDACORP’s previous quarterly dividend of $0.75. IDACORP’s dividend payout ratio (DPR) is 64.10%.


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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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