Avior Wealth Management LLC Raises Holdings in IDACORP, Inc. (NYSE:IDA)

Avior Wealth Management LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 443 shares of the energy company’s stock after buying an additional 117 shares during the period. Avior Wealth Management LLC’s holdings in IDACORP were worth $46,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IDA. Clean Energy Transition LLP purchased a new position in shares of IDACORP during the 2nd quarter worth approximately $49,103,000. Nuance Investments LLC grew its holdings 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 worth $103,813,000 after acquiring an additional 178,294 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of IDACORP by 30.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock worth $53,667,000 after acquiring an additional 135,793 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of IDACORP in the 2nd quarter worth approximately $8,032,000. Finally, F M Investments LLC acquired a new stake in shares of IDACORP in the 2nd quarter worth approximately $5,236,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

Shares of NYSE:IDA opened at $118.91 on Monday. The business’s fifty day moving average price is $106.71 and its two-hundred day moving average price is $100.53. The stock has a market cap of $6.33 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. 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, Inc. has a one year low of $86.43 and a one year high of $120.02.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The company had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the company posted $2.07 EPS. On average, analysts forecast that IDACORP, Inc. will post 5.42 EPS for the current fiscal year.

IDACORP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.86 per share. This is a boost from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Wall Street Analysts Forecast Growth

IDA has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target on the stock. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Wells Fargo & Company upped their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, IDACORP currently has an average rating of “Hold” and a consensus price target of $108.83.

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.