IDACORP, Inc. (NYSE:IDA) Stake Raised by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 2.4% during the 4th quarter, HoldingsChannel reports. The fund owned 5,641 shares of the energy company’s stock after purchasing an additional 132 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in IDACORP were worth $616,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Natixis Advisors LLC increased its stake in IDACORP by 5.1% in the 4th quarter. Natixis Advisors LLC now owns 59,541 shares of the energy company’s stock valued at $6,507,000 after buying an additional 2,893 shares during the period. Hilton Capital Management LLC grew its holdings in shares of IDACORP by 4.9% during the 4th quarter. Hilton Capital Management LLC now owns 16,930 shares of the energy company’s stock valued at $1,850,000 after acquiring an additional 788 shares in the last quarter. Atala Financial Inc acquired a new position in shares of IDACORP in the fourth quarter worth $269,000. Vestcor Inc purchased a new stake in shares of IDACORP during the fourth quarter worth $347,000. Finally, Swiss National Bank boosted its position in IDACORP by 5.8% during the fourth quarter. Swiss National Bank now owns 104,700 shares of the energy company’s stock valued at $11,442,000 after purchasing an additional 5,700 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Down 0.0 %

IDACORP stock opened at $114.20 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 fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm has a fifty day moving average price of $112.40 and a two-hundred day moving average price of $109.95. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.32 and a beta of 0.59.

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

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. IDACORP’s payout ratio is 62.77%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IDA. Bank of America lifted their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a report on Monday, March 3rd. UBS Group boosted their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group cut their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Finally, Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $120.50.

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.