Xponance Inc. Buys 399 Shares of IDACORP, Inc. (NYSE:IDA)

Xponance Inc. boosted its stake in IDACORP, Inc. (NYSE:IDA) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,061 shares of the energy company’s stock after buying an additional 399 shares during the period. Xponance Inc.’s holdings in IDACORP were worth $662,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IDA. Arrien Investments Inc. purchased a new stake in shares of IDACORP in the 4th quarter worth about $293,000. Signaturefd LLC grew its holdings in IDACORP by 31.8% in the fourth quarter. Signaturefd LLC now owns 1,531 shares of the energy company’s stock worth $167,000 after purchasing an additional 369 shares during the period. Tumwater Wealth Management LLC bought a new position in shares of IDACORP during the fourth quarter valued at approximately $545,000. Envestnet Portfolio Solutions Inc. boosted its position in shares of IDACORP by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company’s stock worth $616,000 after purchasing an additional 132 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of IDACORP by 5.1% in the 4th quarter. Natixis Advisors LLC now owns 59,541 shares of the energy company’s stock worth $6,507,000 after buying an additional 2,893 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. UBS Group lifted their price target on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Bank of America increased their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley upped their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Finally, Jefferies Financial Group reduced their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average target price of $120.50.

IDACORP Stock Performance

Shares of NYSE IDA opened at $112.23 on Wednesday. The firm’s 50-day moving average price is $112.50 and its 200-day moving average price is $110.01. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.42. The company has a market cap of $6.06 billion, a PE ratio of 20.48, a PEG ratio of 2.32 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last issued 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 company had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

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.