1,949 Shares in IDACORP, Inc. (NYSE:IDA) Purchased by Longboard Asset Management LP

Longboard Asset Management LP acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,949 shares of the energy company’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of IDACORP by 17.7% during 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. State Street Corp boosted its holdings in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after buying an additional 86,642 shares in the last quarter. Geode Capital Management LLC grew its position in shares of IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after buying an additional 36,063 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after acquiring an additional 35,651 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock valued at $35,401,000 after acquiring an additional 22,485 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $102.00 to $116.00 in a report on Friday, November 1st. Jefferies Financial Group lowered their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company increased their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $116.20.

IDACORP Trading Up 0.7 %

Shares of NYSE:IDA opened at $110.70 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42. The company has a market cap of $5.90 billion, a P/E ratio of 20.54, a PEG ratio of 2.25 and a beta of 0.65. The stock’s fifty day moving average price is $111.16 and its 200-day moving average price is $106.75.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 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.