Kingswood Wealth Advisors LLC Invests $206,000 in IDACORP, Inc. (NYSE:IDA)

Kingswood Wealth Advisors LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,884 shares of the energy company’s stock, valued at approximately $206,000.

Other large investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Legacy Investment Solutions LLC purchased a new stake in IDACORP during the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in IDACORP during the third quarter worth about $26,000. Versant Capital Management Inc increased its holdings in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after buying an additional 301 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of 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. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 0.1 %

Shares of IDA stock opened at $110.03 on Friday. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.22 and a beta of 0.65. The firm has a 50-day moving average price of $111.32 and a 200 day moving average price of $106.56. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its 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 firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter last year, the business posted $2.07 EPS. Research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.13%. IDACORP’s payout ratio is currently 63.82%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company lifted their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, IDACORP currently has an average rating of “Hold” and an average price target of $116.20.

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.