Diversified Trust Co Invests $704,000 in IDACORP, Inc. (NYSE:IDA)

Diversified Trust Co acquired a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,443 shares of the energy company’s stock, valued at approximately $704,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in IDACORP during the 3rd quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of IDACORP during the third quarter valued at approximately $26,000. Versant Capital Management Inc increased its holdings in IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after buying an additional 301 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in IDACORP in the second quarter worth approximately $35,000. Finally, Avior Wealth Management LLC lifted its holdings in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after buying an additional 117 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IDA has been the topic of a number of analyst reports. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. Jefferies Financial Group began coverage on shares of IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price for the company. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average price target of $111.00.

IDACORP Stock Up 0.9 %

NYSE:IDA opened at $110.23 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The company has a market cap of $5.87 billion, a PE ratio of 20.45, a P/E/G ratio of 2.51 and a beta of 0.65. The company’s 50 day moving average is $113.24 and its two-hundred day moving average is $104.69.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share 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 firm had revenue of $528.53 million for the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter in the previous year, the firm posted $2.07 EPS. Analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.12%. This is a boost from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, November 5th. IDACORP’s payout ratio is presently 63.82%.

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.