Jones Financial Companies Lllp Increases Stake in IDACORP, Inc. (NYSE:IDA)

Jones Financial Companies Lllp grew its stake in IDACORP, Inc. (NYSE:IDA) by 1,333.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 516 shares of the energy company’s stock after acquiring an additional 480 shares during the quarter. Jones Financial Companies Lllp’s holdings in IDACORP were worth $56,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IDACORP by 98.4% in the 4th 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 during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP in the 3rd quarter valued at $25,000. Versant Capital Management Inc grew its position in shares of IDACORP by 2,150.0% in the 4th 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 last quarter. Independence Bank of Kentucky grew its position in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after buying an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of IDACORP by 35.9% in the 3rd 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 during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on IDA. Jefferies Financial Group lowered their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Morgan Stanley boosted their target price on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. One 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, the stock has an average rating of “Hold” and an average target price of $118.20.

IDACORP Trading Up 0.0 %

NYSE IDA opened at $116.01 on Tuesday. The company’s fifty day simple moving average is $111.69 and its 200-day simple moving average is $109.52. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.26 billion, a P/E ratio of 21.17, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. Equities research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.97%. IDACORP’s dividend payout ratio is currently 62.77%.

IDACORP Profile

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.