Natixis Advisors LLC Grows Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Natixis Advisors LLC lifted its position in shares of IDACORP, Inc. (NYSE:IDA) by 6.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,648 shares of the energy company’s stock after purchasing an additional 3,649 shares during the period. Natixis Advisors LLC owned 0.11% of IDACORP worth $5,840,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IDA. MQS Management LLC purchased a new position in IDACORP during the 3rd quarter valued at $506,000. GSA Capital Partners LLP bought a new position in IDACORP during the 3rd quarter valued at approximately $3,228,000. Entropy Technologies LP increased its position in shares of IDACORP by 156.2% during the third quarter. Entropy Technologies LP now owns 5,800 shares of the energy company’s stock valued at $598,000 after acquiring an additional 3,536 shares in the last quarter. Versor Investments LP bought a new position in shares of IDACORP in the 3rd quarter worth approximately $463,000. Finally, Crossmark Global Holdings Inc. grew its stake in shares of IDACORP by 57.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,415 shares of the energy company’s stock valued at $558,000 after acquiring an additional 1,975 shares during the period. 89.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Morgan Stanley lifted their price objective on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $108.83.

IDACORP Trading Up 0.1 %

IDA opened at $118.91 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock’s 50 day moving average price is $106.71 and its 200-day moving average price is $100.48. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.02. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 2.61 and a beta of 0.60.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The business had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter in the previous year, the business earned $2.07 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 5.42 EPS for the current year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 2.89%. This is a boost from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio is 63.82%.

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.