IDACORP, Inc. (NYSE:IDA) Stock Position Raised by Principal Securities Inc.

Principal Securities Inc. lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,318 shares of the energy company’s stock after acquiring an additional 364 shares during the quarter. Principal Securities Inc.’s holdings in IDACORP were worth $472,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Diversified Trust Co purchased a new stake in shares of IDACORP in the fourth quarter valued at $704,000. Algert Global LLC lifted its holdings in shares of IDACORP by 42.5% in the third quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after purchasing an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of IDACORP by 67.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after purchasing an additional 19,274 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of IDACORP in the third quarter valued at $3,228,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after purchasing an additional 35,651 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Price Performance

Shares of NYSE:IDA opened at $113.98 on Friday. 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, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42. The business has a fifty day simple moving average of $109.90 and a 200 day simple moving average of $107.91. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.29 and a beta of 0.65.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.02%. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IDA shares. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and increased their target price for the company from $102.00 to $116.00 in a report on Friday, November 1st. Jefferies Financial Group cut their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, IDACORP presently has an average rating of “Hold” and an average price target of $116.20.

About IDACORP

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.