IDACORP, Inc. (NYSE:IDA) Shares Purchased by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its stake in IDACORP, Inc. (NYSE:IDA) by 37.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,078 shares of the energy company’s stock after acquiring an additional 1,384 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in IDACORP were worth $472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Edgestream Partners L.P. acquired a new position in IDACORP in the 2nd quarter valued at about $1,833,000. Dimensional Fund Advisors LP grew its holdings in shares of IDACORP by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock worth $64,583,000 after buying an additional 47,527 shares in the last quarter. WINTON GROUP Ltd raised its position in shares of IDACORP by 114.3% in the second quarter. WINTON GROUP Ltd now owns 9,705 shares of the energy company’s stock valued at $904,000 after buying an additional 5,177 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of IDACORP by 3.1% during the second quarter. Envestnet Asset Management Inc. now owns 167,113 shares of the energy company’s stock valued at $15,567,000 after buying an additional 5,056 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in IDACORP by 16.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,060 shares of the energy company’s stock worth $937,000 after acquiring an additional 1,429 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Price Performance

IDA stock opened at $103.22 on Friday. The company has a market cap of $5.50 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average price of $101.64 and a two-hundred day moving average price of $96.23. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The firm had revenue of $451.04 million during the quarter, compared to the consensus estimate of $420.56 million. During the same quarter in the prior year, the company earned $1.35 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.39 EPS for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 annualized dividend and a dividend yield of 3.22%. IDACORP’s payout ratio is 66.67%.

Analyst Ratings Changes

Several research analysts have weighed in on IDA shares. Morgan Stanley boosted their price target on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday. Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 target price for the company. Wells Fargo & Company raised their price target on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Finally, Bank of America initiated coverage on shares of IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective for the company. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, IDACORP currently has an average rating of “Hold” and an average target price of $103.57.

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.