Inceptionr LLC Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Inceptionr LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, Holdings Channel.com reports. The firm bought 13,264 shares of the energy company’s stock, valued at approximately $1,449,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDA. Legacy Investment Solutions LLC purchased a new position in shares of IDACORP during the 3rd quarter worth approximately $25,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of IDACORP by 98.4% in 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 in the last quarter. Versant Capital Management Inc boosted its position in shares of IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky boosted 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 purchasing an additional 225 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of IDACORP in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IDA shares. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group dropped their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley boosted their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Finally, Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average target price of $118.20.

IDACORP Stock Performance

Shares of IDA opened at $113.78 on Thursday. The business’s fifty day simple moving average is $110.72 and its two-hundred day simple moving average is $108.71. 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 $87.51 and a 12 month high of $120.42. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 2.32 and a beta of 0.65.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.02%. IDACORP’s dividend payout ratio is 62.77%.

IDACORP 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.