Pathstone Holdings LLC Boosts Stake in IDACORP, Inc. (NYSE:IDA)

Pathstone Holdings LLC grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,296 shares of the energy company’s stock after acquiring an additional 4,023 shares during the period. Pathstone Holdings LLC’s holdings in IDACORP were worth $2,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in IDACORP during the 3rd quarter worth approximately $26,000. Rise Advisors LLC increased its stake in shares of IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in IDACORP in the second quarter valued at $35,000. Eastern Bank bought a new position in IDACORP during the 3rd quarter valued at $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in IDACORP during the 2nd quarter worth $71,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Trading Up 0.0 %

NYSE:IDA opened at $118.95 on Tuesday. The firm has a market capitalization of $6.34 billion, a P/E ratio of 22.07, a P/E/G ratio of 2.64 and a beta of 0.60. The business has a 50 day simple moving average of $107.00 and a 200 day simple moving average of $100.68. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42.

IDACORP (NYSE:IDA) last announced its quarterly earnings results 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). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period last year, the firm posted $2.07 EPS. Equities research analysts predict that IDACORP, Inc. will post 5.42 EPS for the current year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Bank of America raised 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 report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Wells Fargo & Company raised their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and an average price target of $108.83.

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.