LPL Financial LLC Acquires 3,237 Shares of IDACORP, Inc. (NYSE:IDA)

LPL Financial LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 11.2% during the 1st quarter, Holdings Channel reports. The firm owned 32,058 shares of the energy company’s stock after purchasing an additional 3,237 shares during the quarter. LPL Financial LLC’s holdings in IDACORP were worth $3,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IDA. Elite Financial Inc. bought a new stake in shares of IDACORP during the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new stake in shares of IDACORP during the 1st quarter valued at about $34,000. Farther Finance Advisors LLC boosted its position in shares of IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock valued at $49,000 after purchasing an additional 378 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company’s stock valued at $51,000 after purchasing an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of IDACORP by 20.8% during the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock valued at $86,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.4%

Shares of NYSE:IDA opened at $125.28 on Friday. The business’s 50 day simple moving average is $119.12 and its two-hundred day simple moving average is $116.38. The firm has a market cap of $6.77 billion, a P/E ratio of 22.06, a PEG ratio of 2.66 and a beta of 0.56. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. IDACORP, Inc. has a 52-week low of $99.81 and a 52-week high of $127.09.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%. The company had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. During the same quarter last year, the company earned $1.71 earnings per share. As a group, research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 60.56%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Guggenheim upped their target price on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group restated a “neutral” rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Morgan Stanley set a $128.00 price target on IDACORP and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Finally, Wells Fargo & Company increased their price target on IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $122.86.

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.