IDACORP, Inc. (NYSE:IDA) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,379,408 shares of the energy company’s stock after acquiring an additional 29,094 shares during the quarter. Alliancebernstein L.P.’s holdings in IDACORP were worth $150,742,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock worth $660,786,000 after purchasing an additional 77,230 shares in the last quarter. Wellington Management Group LLP grew its position in shares of IDACORP by 43.3% in the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock worth $374,279,000 after acquiring an additional 1,035,133 shares in the last quarter. State Street Corp grew its position in shares of IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after acquiring an additional 86,642 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in shares of IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after acquiring an additional 429,276 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after acquiring an additional 36,063 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

NYSE IDA opened at $117.36 on Wednesday. The company has a 50-day moving average price of $113.03 and a two-hundred day moving average price of $110.43. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $120.42. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. 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 issued its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 62.77%.

Analyst Ratings Changes

A number of research firms have commented on IDA. UBS Group lifted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley boosted their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Jefferies Financial Group cut their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America upped their target price on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, IDACORP has an average rating of “Hold” and an average price target of $120.50.

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.