Steward Partners Investment Advisory LLC Increases Holdings in IDACORP, Inc. (NYSE:IDA)

Steward Partners Investment Advisory LLC lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 148.8% in the 4th quarter, Holdings Channel reports. The firm owned 709 shares of the energy company’s stock after acquiring an additional 424 shares during the period. Steward Partners Investment Advisory LLC’s holdings in IDACORP were worth $77,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Atria Investments Inc grew its holdings in shares of IDACORP by 3.1% in the third quarter. Atria Investments Inc now owns 9,765 shares of the energy company’s stock worth $1,007,000 after acquiring an additional 297 shares during the period. Natixis Advisors LLC grew its holdings in IDACORP by 6.9% during the third quarter. Natixis Advisors LLC now owns 56,648 shares of the energy company’s stock valued at $5,840,000 after purchasing an additional 3,649 shares during the period. Thrivent Financial for Lutherans grew its holdings in IDACORP by 2.1% during the third quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the energy company’s stock valued at $1,290,000 after purchasing an additional 262 shares during the period. Pathstone Holdings LLC grew its holdings in IDACORP by 18.1% during the third quarter. Pathstone Holdings LLC now owns 26,296 shares of the energy company’s stock valued at $2,711,000 after purchasing an additional 4,023 shares during the period. Finally, Caprock Group LLC grew its holdings in IDACORP by 7.7% during the third quarter. Caprock Group LLC now owns 3,343 shares of the energy company’s stock valued at $345,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 0.0 %

Shares of IDA stock opened at $116.01 on Tuesday. The company has a market cap of $6.26 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The stock’s 50 day simple moving average is $111.69 and its two-hundred day simple moving average is $109.52. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.42. 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 (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. Research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group dropped 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. Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their target price on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, IDACORP presently has a consensus rating of “Hold” and a consensus target price of $118.20.

IDACORP Company 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.