Xponance Inc. Increases Stake in IDACORP, Inc. (NYSE:IDA)

Xponance Inc. grew its holdings in IDACORP, Inc. (NYSE:IDA) by 7.0% during the 4th quarter, Holdings Channel reports. The fund owned 6,061 shares of the energy company’s stock after buying an additional 399 shares during the period. Xponance Inc.’s holdings in IDACORP were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Reaves W H & Co. Inc. grew its stake in shares of IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after acquiring an additional 429,276 shares during the period. Wellington Management Group LLP increased its stake in shares of IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of IDACORP during the 4th quarter valued at $37,104,000. State Street Corp lifted its stake in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after buying an additional 86,642 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of IDACORP by 14.2% during the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock valued at $59,509,000 after buying an additional 67,568 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

IDA has been the topic of a number of recent analyst reports. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Bank of America upped their price target on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley lifted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Finally, UBS Group upped their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and a consensus price target of $120.50.

IDACORP Trading Down 1.7 %

IDA stock opened at $112.23 on Wednesday. The firm has a fifty day moving average price of $112.50 and a 200 day moving average price of $110.01. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm has a market cap of $6.06 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. 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 issued its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. Sell-side analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

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.