Russell Investments Group Ltd. Acquires 6,148 Shares of IDACORP, Inc. (NYSE:IDA)

Russell Investments Group Ltd. grew its position in IDACORP, Inc. (NYSE:IDA – Get Rating) by 90.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,944 shares of the energy company’s stock after acquiring an additional 6,148 shares during the period. Russell Investments Group Ltd.’s holdings in IDACORP were worth $1,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FourThought Financial LLC grew 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 valued at $25,000 after buying an additional 143 shares during the period. Crewe Advisors LLC acquired a new position in shares of IDACORP in the 4th quarter valued at $35,000. Cohen & Steers Inc. grew 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 valued at $46,000 after buying an additional 101 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of IDACORP by 97.4% in the 3rd quarter. Quadrant Capital Group LLC now owns 610 shares of the energy company’s stock valued at $60,000 after buying an additional 301 shares during the period. Finally, IFP Advisors Inc grew its holdings in shares of IDACORP by 270.1% in the 3rd quarter. IFP Advisors Inc now owns 992 shares of the energy company’s stock valued at $64,000 after buying an additional 724 shares during the period. Institutional investors and hedge funds own 79.38% of the company’s stock.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on shares of IDACORP from $113.00 to $110.00 and set an “equal weight” rating for the company in a research note on Friday, February 17th. 1-800-FLOWERS.COM restated a “maintains” rating on shares of IDACORP in a research note on Friday, May 5th. Mizuho cut shares of IDACORP from a “buy” rating to a “neutral” rating and dropped their target price for the company from $117.00 to $107.00 in a report on Tuesday, April 4th. Finally, StockNews.com assumed coverage on shares of IDACORP in a report on Thursday, May 18th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $106.67.

IDACORP Stock Down 0.3 %

IDACORP stock opened at $106.08 on Wednesday. The stock has a market cap of $5.37 billion, a P/E ratio of 19.98, a P/E/G ratio of 5.66 and a beta of 0.62. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. IDACORP, Inc. has a twelve month low of $93.53 and a twelve month high of $115.92. The company’s 50-day moving average price is $108.96 and its two-hundred day moving average price is $106.74.

IDACORP (NYSE:IDA – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The energy company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. The firm had revenue of $429.66 million for the quarter, compared to analysts’ expectations of $346.62 million. IDACORP had a net margin of 15.54% and a return on equity of 9.65%. During the same period in the prior year, the firm earned $0.91 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.1 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 3rd will be issued a dividend of $0.79 per share. The ex-dividend date is Tuesday, May 2nd. This represents a $3.16 annualized dividend and a dividend yield of 2.98%. IDACORP’s dividend payout ratio is presently 59.51%.

IDACORP Profile

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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.