Wilmington Savings Fund Society FSB Takes Position in IDACORP, Inc. (NYSE:IDA)

Wilmington Savings Fund Society FSB purchased a new stake in IDACORP, Inc. (NYSE:IDA) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 514 shares of the energy company’s stock, valued at approximately $53,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDA. Clean Energy Transition LLP acquired a new position in IDACORP in the second quarter valued at $49,103,000. Wellington Management Group LLP raised its stake in IDACORP by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after acquiring an additional 359,553 shares during the last quarter. Nuance Investments LLC grew its stake in shares of IDACORP by 19.0% in the 2nd quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after purchasing an additional 178,294 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of IDACORP by 30.8% in the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock valued at $53,667,000 after purchasing an additional 135,793 shares during the period. Finally, State Street Corp raised its stake in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.2 %

IDA opened at $108.78 on Friday. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.51 and a beta of 0.64. The business’s fifty day moving average is $111.60 and its two-hundred day moving average is $102.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share 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 business had revenue of $528.53 million for the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter last year, the business posted $2.07 earnings per share. Analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were given a dividend of $0.86 per share. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 3.16%. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IDA shares. Wells Fargo & Company boosted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Morgan Stanley lifted their price objective on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $111.00.

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.