Wilmington Savings Fund Society FSB Acquires New Holdings in IDACORP, Inc. (NYSE:IDA)

Wilmington Savings Fund Society FSB purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 514 shares of the energy company’s stock, valued at approximately $53,000.

Several other large investors have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in IDACORP during the third quarter worth $25,000. V Square Quantitative Management LLC purchased a new stake in shares of IDACORP in the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC acquired a new position in IDACORP during the 2nd quarter worth about $35,000. Avior Wealth Management LLC boosted its holdings in IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the period. Finally, Eastern Bank acquired a new position in IDACORP in the 3rd quarter valued at about $52,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Down 0.2 %

NYSE:IDA opened at $108.78 on Friday. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42. The stock has a market cap of $5.79 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.51 and a beta of 0.64. 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 has a 50-day simple moving average of $111.60 and a 200-day simple moving average of $102.99.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) 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 analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period last year, the company earned $2.07 earnings per share. As a group, analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio is currently 63.82%.

Analyst Ratings Changes

IDA has been the topic of several research reports. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Morgan Stanley lifted their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company upped their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $111.00.

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.