Cerity Partners LLC Grows Stake in IDACORP, Inc. (NYSE:IDA)

Cerity Partners LLC lifted its stake in IDACORP, Inc. (NYSE:IDA) by 19.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,515 shares of the energy company’s stock after purchasing an additional 3,763 shares during the quarter. Cerity Partners LLC’s holdings in IDACORP were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Trust Point Inc. raised its holdings in IDACORP by 1.4% in the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after buying an additional 101 shares during the last quarter. Blue Trust Inc. increased its position in shares of IDACORP by 7.5% during the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after acquiring an additional 106 shares in the last quarter. Raymond James Trust N.A. raised its holdings in IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares during the last quarter. Fortem Financial Group LLC raised its holdings in IDACORP by 1.2% in the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock worth $866,000 after acquiring an additional 112 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.2 %

IDACORP stock opened at $118.47 on Monday. The business has a 50-day simple moving average of $108.25 and a two-hundred day simple moving average of $101.24. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $120.42. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.31 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.64 and a beta of 0.60.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million for the quarter, compared to analysts’ expectations of $524.39 million. During the same period in the prior year, the company posted $2.07 earnings per share. Analysts predict that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be issued a $0.86 dividend. This is a boost from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, November 5th. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Wall Street Analyst Weigh In

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