Ballentine Partners LLC Buys Shares of 2,860 IDACORP, Inc. (NYSE:IDA)

Ballentine Partners LLC purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,860 shares of the energy company’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP raised its stake in IDACORP by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after acquiring an additional 359,553 shares in the last quarter. State Street Corp increased its position in IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Geode Capital Management LLC lifted its stake in IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after purchasing an additional 36,063 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in IDACORP by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock valued at $64,583,000 after buying an additional 47,527 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IDACORP by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after buying an additional 35,651 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

Shares of IDA stock opened at $109.01 on Friday. The stock has a market capitalization of $5.81 billion, a PE ratio of 20.22, a PEG ratio of 2.21 and a beta of 0.65. The business’s 50 day simple moving average is $112.23 and its 200 day simple moving average is $105.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The firm had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same period in the prior year, the company posted $2.07 earnings per share. As a group, research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio is 63.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $114.60.

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.