Sanctuary Advisors LLC Has $946,000 Stake in IDACORP, Inc. (NYSE:IDA)

Sanctuary Advisors LLC raised its position in IDACORP, Inc. (NYSE:IDA) by 46.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,178 shares of the energy company’s stock after purchasing an additional 2,930 shares during the quarter. Sanctuary Advisors LLC’s holdings in IDACORP were worth $946,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after buying an additional 36,063 shares during the last quarter. M&T Bank Corp increased its stake in IDACORP by 0.8% in the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock valued at $1,133,000 after buying an additional 92 shares during the last quarter. Barclays PLC increased its position in shares of IDACORP by 90.9% in the third quarter. Barclays PLC now owns 27,184 shares of the energy company’s stock valued at $2,803,000 after acquiring an additional 12,944 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in IDACORP during the third quarter valued at approximately $25,000. Finally, Wellington Management Group LLP grew its stake in IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after purchasing an additional 359,553 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

Shares of NYSE IDA opened at $108.78 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 2.51 and a beta of 0.64. The stock’s fifty day moving average price is $111.60 and its two-hundred day moving average price is $103.05. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same quarter last year, the company posted $2.07 earnings per share. On average, equities analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a $0.86 dividend. This is a boost from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Tuesday, November 5th. IDACORP’s payout ratio is 63.82%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IDA. Wells Fargo & Company boosted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Morgan Stanley increased their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average target price of $111.00.

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.