WINTON GROUP Ltd Buys 5,177 Shares of IDACORP, Inc. (NYSE:IDA)

WINTON GROUP Ltd grew its stake in shares of IDACORP, Inc. (NYSE:IDA) by 114.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,705 shares of the energy company’s stock after purchasing an additional 5,177 shares during the period. WINTON GROUP Ltd’s holdings in IDACORP were worth $904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in IDACORP by 50.3% during the 4th quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock valued at $160,700,000 after acquiring an additional 546,818 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of IDACORP by 1.7% during the second quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company’s stock valued at $134,694,000 after purchasing an additional 23,925 shares in the last quarter. Nuance Investments LLC grew its stake in IDACORP by 19.0% in the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock worth $103,813,000 after purchasing an additional 178,294 shares during the period. First Trust Advisors LP raised its holdings in IDACORP by 0.9% in the fourth quarter. First Trust Advisors LP now owns 761,621 shares of the energy company’s stock worth $74,883,000 after purchasing an additional 7,008 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in IDACORP by 10.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock valued at $63,829,000 after buying an additional 61,546 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA opened at $104.49 on Tuesday. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $105.24. The company has a market capitalization of $5.56 billion, a P/E ratio of 20.98 and a beta of 0.60. The firm has a 50 day moving average of $100.08 and a 200 day moving average of $95.44. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same period in the previous year, the business posted $1.35 earnings per share. As a group, equities research analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were paid a $0.83 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.18%. IDACORP’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IDA. Morgan Stanley upped their target price on shares of IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price objective on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Bank of America began coverage on shares of IDACORP in a report on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $101.50.

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.