Verition Fund Management LLC Buys 1,947 Shares of IDACORP, Inc. (NYSE:IDA)

Verition Fund Management LLC raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 63.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,030 shares of the energy company’s stock after acquiring an additional 1,947 shares during the period. Verition Fund Management LLC’s holdings in IDACORP were worth $519,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. CWM LLC grew its stake in IDACORP by 55.0% in the 2nd quarter. CWM LLC now owns 905 shares of the energy company’s stock valued at $84,000 after purchasing an additional 321 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in IDACORP by 4.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,784 shares of the energy company’s stock worth $446,000 after acquiring an additional 225 shares during the period. Assenagon Asset Management S.A. purchased a new position in IDACORP in the second quarter valued at about $8,032,000. Boston Trust Walden Corp grew its position in shares of IDACORP by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 576,189 shares of the energy company’s stock valued at $53,672,000 after acquiring an additional 7,194 shares during the period. Finally, Raymond James & Associates grew its position in shares of IDACORP by 4.8% during the 2nd quarter. Raymond James & Associates now owns 430,204 shares of the energy company’s stock valued at $40,073,000 after acquiring an additional 19,750 shares during the period. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Up 0.1 %

Shares of IDA opened at $112.96 on Thursday. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The stock has a market cap of $6.02 billion, a PE ratio of 20.96, a P/E/G ratio of 2.56 and a beta of 0.64. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The business’s 50-day moving average price is $110.18 and its 200-day moving average price is $102.22.

IDACORP (NYSE:IDA) last posted 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). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The firm had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. During the same period last year, the company posted $2.07 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Wall Street Analyst Weigh In

Several research firms recently commented on IDA. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price target for the company. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Wells Fargo & Company increased their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price target on shares of IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDACORP presently has an average rating of “Hold” and an average target price of $108.83.

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.