Fulton Bank N.A. Increases Position in IDACORP, Inc. (NYSE:IDA)

Fulton Bank N.A. increased its stake in IDACORP, Inc. (NYSE:IDA) by 12.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,476 shares of the energy company’s stock after acquiring an additional 395 shares during the period. Fulton Bank N.A.’s holdings in IDACORP were worth $358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in IDACORP by 44.3% in the third quarter. SG Americas Securities LLC now owns 15,628 shares of the energy company’s stock worth $1,611,000 after acquiring an additional 4,800 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in IDACORP in the second quarter worth $116,000. Sanctuary Advisors LLC purchased a new position in IDACORP in the second quarter worth $591,000. Creative Planning grew its position in IDACORP by 97.1% in the second quarter. Creative Planning now owns 15,655 shares of the energy company’s stock worth $1,458,000 after acquiring an additional 7,712 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its position in IDACORP by 16.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 63,537 shares of the energy company’s stock valued at $5,918,000 after buying an additional 8,769 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IDA shares. Wells Fargo & Company boosted their target price on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price target on the stock. Bank of America started coverage on IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price target on the stock. Finally, Morgan Stanley raised their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average target price of $103.57.

IDACORP Trading Down 0.2 %

IDA opened at $100.80 on Thursday. The stock has a market cap of $5.37 billion, a PE ratio of 20.24, a PEG ratio of 3.46 and a beta of 0.60. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average of $102.43 and a 200-day moving average of $96.91. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $105.24.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The company had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same quarter last year, the business posted $1.35 EPS. Equities research analysts predict that IDACORP, Inc. will post 5.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, August 5th. IDACORP’s dividend payout ratio (DPR) is 66.67%.

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.