IDACORP, Inc. (NYSE:IDA) Shares Acquired by Spirit of America Management Corp NY

Spirit of America Management Corp NY boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 44.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,300 shares of the energy company’s stock after acquiring an additional 400 shares during the period. Spirit of America Management Corp NY’s holdings in IDACORP were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Longboard Asset Management LP acquired a new position in shares of IDACORP in the 4th quarter valued at about $213,000. Trust Point Inc. boosted its stake in IDACORP by 34.1% in the fourth quarter. Trust Point Inc. now owns 9,892 shares of the energy company’s stock valued at $1,081,000 after acquiring an additional 2,518 shares during the period. CENTRAL TRUST Co grew its holdings in shares of IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company’s stock valued at $91,000 after purchasing an additional 100 shares during the last quarter. Journey Strategic Wealth LLC raised its position in shares of IDACORP by 4.2% during the 4th quarter. Journey Strategic Wealth LLC now owns 4,202 shares of the energy company’s stock worth $459,000 after purchasing an additional 169 shares during the period. Finally, Independence Bank of Kentucky lifted its holdings 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 during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 0.1 %

IDACORP stock opened at $110.82 on Thursday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a market capitalization 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 firm has a 50 day simple moving average of $110.86 and a 200-day simple moving average of $106.89.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is currently 63.82%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley raised their price target 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. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $116.20.

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.