1,888 Shares in IDACORP, Inc. (NYSE:IDA) Bought by JGP Wealth Management LLC

JGP Wealth Management LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,888 shares of the energy company’s stock, valued at approximately $206,000.

A number of other hedge funds have also made changes to their positions in the company. M&T Bank Corp raised its position in shares of IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock worth $1,133,000 after purchasing an additional 92 shares during the last quarter. Trust Point Inc. increased its position in IDACORP by 1.4% during the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after buying an additional 101 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of IDACORP by 7.5% in the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after acquiring an additional 106 shares during the last quarter. Pitcairn Co. lifted its position in shares of IDACORP by 2.3% in the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after acquiring an additional 107 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in shares of IDACORP by 35.9% during the third 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 last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

NYSE:IDA opened at $110.33 on Friday. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The firm’s 50 day moving average is $113.01 and its two-hundred day moving average is $105.34. The company has a market cap of $5.88 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.19 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The firm had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same quarter in the previous year, the business posted $2.07 EPS. Analysts expect that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s payout ratio is currently 63.82%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Morgan Stanley boosted their target price on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Wells Fargo & Company upped their price objective 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. Jefferies Financial Group started coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price on the stock. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. Finally, StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $111.00.

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.