International Assets Investment Management LLC Makes New $164,000 Investment in IDACORP, Inc. (NYSE:IDA)

International Assets Investment Management LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,671 shares of the energy company’s stock, valued at approximately $164,000.

Other hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in IDACORP in the third quarter valued at approximately $40,000. Signaturefd LLC lifted its stake in shares of IDACORP by 24.2% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock valued at $110,000 after purchasing an additional 229 shares during the period. Selway Asset Management purchased a new stake in IDACORP during the third quarter worth $118,000. CENTRAL TRUST Co grew its position in IDACORP by 371.7% during the third quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock valued at $119,000 after buying an additional 1,000 shares during the period. Finally, Blue Trust Inc. grew its position in IDACORP by 13.5% during the fourth quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock valued at $129,000 after buying an additional 164 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the topic of several recent analyst reports. StockNews.com raised shares of IDACORP to a “sell” rating in a research note on Friday. TheStreet cut IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Mizuho decreased their target price on IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Morgan Stanley boosted their price target on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Finally, Wells Fargo & Company decreased their price objective on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. 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, IDACORP presently has a consensus rating of “Hold” and a consensus target price of $93.80.

IDACORP Stock Down 0.1 %

NYSE IDA opened at $94.60 on Monday. IDACORP, Inc. has a one year low of $86.43 and a one year high of $112.91. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. The business has a fifty day moving average price of $90.86 and a 200 day moving average price of $93.99. The company has a market cap of $4.80 billion, a P/E ratio of 18.40 and a beta of 0.56.

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

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be given a $0.83 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.51%. IDACORP’s dividend payout ratio (DPR) is presently 64.59%.

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.