Spirit of America Management Corp NY Grows Stock Position in IDACORP, Inc. (NYSE:IDA)

Spirit of America Management Corp NY raised its holdings in IDACORP, Inc. (NYSE:IDA) by 44.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the energy company’s stock after buying an additional 400 shares during the quarter. Spirit of America Management Corp NY’s holdings in IDACORP were worth $142,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in IDACORP in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new position in shares of IDACORP in the 3rd quarter valued at $26,000. 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 valued at $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc increased its holdings in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after buying an additional 301 shares during the last quarter. Finally, Independence Bank of Kentucky raised its position in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lowered their target price on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, IDACORP currently has an average rating of “Hold” and an average target price of $116.20.

IDACORP Stock Up 0.1 %

Shares of NYSE:IDA opened at $110.82 on Thursday. The firm has a market cap of $5.90 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 2.25 and a beta of 0.65. The company has a fifty day simple moving average of $110.86 and a 200 day simple moving average of $106.89. 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, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42.

IDACORP Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.10%. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

About IDACORP

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.