Inspire Investing LLC Acquires 239 Shares of IDACORP, Inc. (NYSE:IDA)

Inspire Investing LLC boosted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,003 shares of the energy company’s stock after purchasing an additional 239 shares during the period. Inspire Investing LLC’s holdings in IDACORP were worth $413,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Rise Advisors LLC lifted its position in shares of IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after buying an additional 146 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP during the second quarter valued at $35,000. Mather Group LLC. acquired a new stake in shares of IDACORP in the 1st quarter valued at $41,000. Kapitalo Investimentos Ltda bought a new stake in shares of IDACORP in the 4th quarter worth about $54,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of IDACORP in the 2nd quarter worth about $71,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Up 0.8 %

Shares of IDA opened at $104.46 on Thursday. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 3.38 and a beta of 0.60. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $105.24. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The business’s fifty day moving average price is $102.48 and its two-hundred day moving average price is $97.28.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on IDA shares. Morgan Stanley lifted their price target on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company lifted their target price on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price target on the stock. Finally, Bank of America started coverage on IDACORP in a research note on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.00.

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.