Cerity Partners LLC Purchases 2,088 Shares of IDACORP, Inc. (NYSE:IDA)

Cerity Partners LLC raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 85.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,530 shares of the energy company’s stock after purchasing an additional 2,088 shares during the quarter. Cerity Partners LLC’s holdings in IDACORP were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of IDACORP in the third quarter worth approximately $40,000. Spirit of America Management Corp NY bought a new stake in shares of IDACORP in the third quarter worth approximately $56,000. Signaturefd LLC grew its stake in shares of IDACORP by 24.2% in the third quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock worth $110,000 after acquiring an additional 229 shares during the period. Selway Asset Management bought a new stake in shares of IDACORP in the third quarter worth approximately $118,000. Finally, CENTRAL TRUST Co grew its stake in shares of IDACORP by 371.7% in the third quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock worth $119,000 after acquiring an additional 1,000 shares during the period. 89.10% of the stock is currently owned by institutional investors.

IDACORP Price Performance

Shares of NYSE:IDA opened at $94.67 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $112.91. The company has a market capitalization of $4.80 billion, a P/E ratio of 18.42 and a beta of 0.56. The firm’s 50 day simple moving average is $90.63 and its two-hundred day simple moving average is $94.05.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The business had revenue of $411.95 million for the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. Research analysts expect that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio is currently 64.59%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on IDA shares. Mizuho reduced their price target on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. Wells Fargo & Company reduced their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research note on Friday, February 16th. Morgan Stanley lifted their price target on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research report on Monday, January 22nd. Finally, TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $93.80.

IDACORP Company 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.