Glenmede Trust Co. NA Acquires 1,799 Shares of IDACORP, Inc. (NYSE:IDA)

Glenmede Trust Co. NA grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 24.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,023 shares of the energy company’s stock after purchasing an additional 1,799 shares during the quarter. Glenmede Trust Co. NA’s holdings in IDACORP were worth $930,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in IDACORP in the 3rd quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP in the 2nd quarter worth $35,000. Avior Wealth Management LLC boosted its stake in IDACORP by 35.9% in the third 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. Eastern Bank purchased a new stake in shares of IDACORP during the third quarter worth about $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of IDACORP in the second quarter valued at about $71,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on IDA. Wells Fargo & Company lifted their price target on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Finally, Morgan Stanley boosted their price target 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. One investment 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $108.83.

IDACORP Trading Down 1.3 %

NYSE:IDA opened at $116.88 on Tuesday. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $120.42. The business’s 50-day moving average is $108.25 and its two-hundred day moving average is $101.26. 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 firm has a market capitalization of $6.23 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The business had revenue of $528.53 million for 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 quarter last year, the business earned $2.07 EPS. Research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 2.94%. IDACORP’s dividend payout ratio is currently 63.82%.

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.