Proficio Capital Partners LLC Acquires Shares of 44,648 IDACORP, Inc. (NYSE:IDA)

Proficio Capital Partners LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 44,648 shares of the energy company’s stock, valued at approximately $45,000.

Several other large investors have also made changes to their positions in IDA. Wellington Management Group LLP raised its position in IDACORP by 17.7% in the 3rd 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 during the last quarter. State Street Corp increased its stake in shares of IDACORP by 5.5% in the third 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. Reaves W H & Co. Inc. raised its holdings in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after buying an additional 429,276 shares during the last quarter. Geode Capital Management LLC lifted its position in IDACORP by 3.9% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in IDACORP by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company’s stock worth $76,450,000 after acquiring an additional 7,286 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.5 %

NYSE:IDA opened at $115.08 on Friday. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59. 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 50-day moving average price of $112.80 and a two-hundred day moving average price of $110.15. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.42.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping 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 the consensus estimate of $403.21 million. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 62.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on IDA shares. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lowered their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report 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 report on Monday, March 3rd. UBS Group lifted their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Morgan Stanley upped their price target on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $120.50.

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.