Verition Fund Management LLC Has $519,000 Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Verition Fund Management LLC lifted its stake in IDACORP, Inc. (NYSE:IDA) by 63.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,030 shares of the energy company’s stock after acquiring an additional 1,947 shares during the quarter. Verition Fund Management LLC’s holdings in IDACORP were worth $519,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of IDACORP in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP in the second quarter valued at $35,000. Avior Wealth Management LLC lifted its stake in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after buying an additional 117 shares during the last quarter. Eastern Bank bought a new stake in shares of IDACORP during the 3rd quarter worth about $52,000. Finally, 1620 Investment Advisors Inc. bought a new position in IDACORP in the 2nd quarter valued at about $71,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price target on the stock. Morgan Stanley lifted their price objective on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $108.83.

IDACORP Price Performance

IDA stock opened at $112.96 on Thursday. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 2.56 and a beta of 0.64. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a 50 day simple moving average of $110.18 and a 200 day simple moving average of $102.22. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). The firm had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the prior year, the company earned $2.07 EPS. Research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.86 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 3.05%. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

IDACORP 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.