9,006 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Duality Advisers LP

Duality Advisers LP bought a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,006 shares of the energy company’s stock, valued at approximately $837,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Texas Permanent School Fund Corp grew its holdings in shares of IDACORP by 1.1% during the first quarter. Texas Permanent School Fund Corp now owns 44,189 shares of the energy company’s stock worth $4,105,000 after purchasing an additional 465 shares in the last quarter. FORA Capital LLC increased its holdings in shares of IDACORP by 74.3% in the 1st quarter. FORA Capital LLC now owns 11,476 shares of the energy company’s stock worth $1,066,000 after buying an additional 4,893 shares during the last quarter. Fortem Financial Group LLC increased its holdings in shares of IDACORP by 5.6% in the 1st quarter. Fortem Financial Group LLC now owns 9,189 shares of the energy company’s stock worth $854,000 after buying an additional 484 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of IDACORP by 8.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,542 shares of the energy company’s stock worth $1,629,000 after acquiring an additional 1,405 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of IDACORP by 42.4% during the 1st quarter. BNP Paribas Financial Markets now owns 11,635 shares of the energy company’s stock worth $1,081,000 after acquiring an additional 3,464 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total transaction of $142,635.00. Following the transaction, the vice president now directly owns 1,650 shares of the company’s stock, valued at $156,898.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IDA shares. Morgan Stanley lowered their price target on IDACORP from $98.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Wells Fargo & Company boosted their target price on IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Mizuho increased their price target on shares of IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, StockNews.com upgraded shares of IDACORP to a “sell” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $96.40.

IDACORP Stock Performance

Shares of IDA stock opened at $94.86 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $106.33. The company has a market capitalization of $5.05 billion, a P/E ratio of 19.05 and a beta of 0.58. The stock has a 50 day moving average price of $94.11 and a two-hundred day moving average price of $92.94.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06). The firm had revenue of $448.94 million for the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a net margin of 14.18% and a return on equity of 8.71%. During the same period in the previous year, the company earned $1.11 EPS. Analysts expect that IDACORP, Inc. will post 5.36 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Friday, May 3rd. IDACORP’s payout ratio is 66.67%.

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.