IDACORP, Inc. (NYSE:IDA) Shares Purchased by Trust Point Inc.

Trust Point Inc. boosted its position in IDACORP, Inc. (NYSE:IDA) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,374 shares of the energy company’s stock after purchasing an additional 101 shares during the quarter. Trust Point Inc.’s holdings in IDACORP were worth $760,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDA. Victory Capital Management Inc. raised its position in shares of IDACORP by 1.7% in the second quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company’s stock valued at $134,694,000 after buying an additional 23,925 shares during the last quarter. Nuance Investments LLC boosted its holdings in shares of IDACORP by 19.0% during the 2nd quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock worth $103,813,000 after purchasing an additional 178,294 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of IDACORP by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock worth $64,583,000 after purchasing an additional 47,527 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of IDACORP by 1.3% in the second quarter. Boston Trust Walden Corp now owns 576,189 shares of the energy company’s stock valued at $53,672,000 after purchasing an additional 7,194 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its holdings in shares of IDACORP by 30.8% in the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock valued at $53,667,000 after purchasing an additional 135,793 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDACORP stock opened at $104.77 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 3.38 and a beta of 0.60. The business has a 50-day moving average of $102.59 and a 200 day moving average of $97.41. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $105.24.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The firm had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. During the same quarter in the previous year, the business posted $1.35 earnings per share. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.39 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.28%. IDACORP’s payout ratio is currently 66.67%.

Analyst Ratings Changes

Several analysts have recently weighed in on IDA shares. Jefferies Financial Group initiated coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Bank of America initiated coverage on IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Morgan Stanley lifted their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, IDACORP has a consensus rating of “Hold” and an average target price of $104.00.

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.