Rhumbline Advisers Has $18.92 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

Rhumbline Advisers increased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 173,106 shares of the energy company’s stock after acquiring an additional 2,667 shares during the quarter. Rhumbline Advisers’ holdings in IDACORP were worth $18,917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP in the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc increased its stake in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky raised its holdings in IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after buying an additional 225 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after buying an additional 117 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Up 1.1 %

IDACORP stock opened at $113.98 on Friday. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.29 and a beta of 0.65. The firm has a 50-day moving average of $109.90 and a 200-day moving average of $107.91. 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 one year low of $86.47 and a one year high of $120.42.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. On average, equities analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IDA. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Morgan Stanley increased their target price on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average price target of $116.20.

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.