MetLife Investment Management LLC Purchases 784 Shares of IDACORP, Inc. (NYSE:IDA)

MetLife Investment Management LLC lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,476 shares of the energy company’s stock after purchasing an additional 784 shares during the quarter. MetLife Investment Management LLC’s holdings in IDACORP were worth $2,833,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IDA. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP during the 3rd quarter worth $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth $35,000. Avior Wealth Management LLC grew its holdings 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 purchasing an additional 117 shares in the last quarter. Eastern Bank acquired a new stake in IDACORP in the third quarter valued at about $52,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in IDACORP in the second quarter valued at about $71,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of IDA stock opened at $116.16 on Thursday. The business’s 50-day moving average price is $108.80 and its 200-day moving average price is $101.51. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $120.42. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.60 and a beta of 0.64. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its quarterly 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 firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period in the previous year, the business posted $2.07 earnings per share. Equities research analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, November 5th. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IDA. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective on the stock. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley raised their price objective on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company raised their price objective on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.