IDACORP, Inc. (NYSE:IDA) Shares Acquired by Allworth Financial LP

Allworth Financial LP boosted its position in shares of IDACORP, Inc. (NYSE:IDA) by 33.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,847 shares of the energy company’s stock after purchasing an additional 717 shares during the period. Allworth Financial LP’s holdings in IDACORP were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDA. V Square Quantitative Management LLC acquired a new position in shares of IDACORP in the 3rd quarter valued at approximately $26,000. Rise Advisors LLC boosted its stake in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after acquiring an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in IDACORP during the 2nd quarter worth $35,000. Eastern Bank bought a new stake in shares of IDACORP in the 3rd quarter worth about $52,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of IDACORP in the 2nd quarter valued at about $71,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Jefferies Financial Group initiated coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. StockNews.com upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley upped their price target on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Bank of America initiated coverage on shares of IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and a consensus target price of $104.83.

IDACORP Stock Performance

Shares of NYSE IDA opened at $102.16 on Thursday. The stock has a fifty day moving average price of $102.81 and a two-hundred day moving average price of $98.11. The firm has a market cap of $5.44 billion, a P/E ratio of 20.51, a PEG ratio of 3.49 and a beta of 0.60. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $105.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.34. The company had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same quarter last year, the firm posted $1.35 EPS. Research analysts forecast that IDACORP, Inc. will post 5.38 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date is Tuesday, November 5th. IDACORP’s payout ratio is presently 69.08%.

IDACORP 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.