Natixis Advisors LLC Raises Holdings in IDACORP, Inc. (NYSE:IDA)

Natixis Advisors LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,541 shares of the energy company’s stock after purchasing an additional 2,893 shares during the period. Natixis Advisors LLC owned about 0.11% of IDACORP worth $6,507,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Diversified Trust Co purchased a new position in shares of IDACORP during the 4th quarter worth approximately $704,000. Algert Global LLC boosted its position in IDACORP by 42.5% during the third quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after acquiring an additional 10,550 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in IDACORP by 67.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after acquiring an additional 19,274 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in IDACORP by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after acquiring an additional 35,651 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of IDACORP in the 4th quarter valued at $913,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Trading Down 0.4 %

NYSE IDA opened at $116.24 on Friday. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.42. The company has a 50-day simple moving average of $112.07 and a 200-day simple moving average of $109.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The firm has a market capitalization of $6.27 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company 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. This represents a $3.44 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IDA. Morgan Stanley lifted their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group dropped their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average price target of $120.20.

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.