Sei Investments Co. Has $21.17 Million Holdings in IDACORP, Inc. (NYSE:IDA)

Sei Investments Co. raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,766 shares of the energy company’s stock after purchasing an additional 8,604 shares during the period. Sei Investments Co. owned 0.36% of IDACORP worth $21,174,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in IDA. Thrivent Financial for Lutherans raised its position in IDACORP by 2.1% during the third quarter. Thrivent Financial for Lutherans now owns 12,511 shares of the energy company’s stock valued at $1,290,000 after acquiring an additional 262 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of IDACORP by 78.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 6,014 shares of the energy company’s stock valued at $620,000 after purchasing an additional 2,635 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after purchasing an additional 35,651 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of IDACORP by 19.1% in the 3rd quarter. Cerity Partners LLC now owns 23,515 shares of the energy company’s stock valued at $2,424,000 after purchasing an additional 3,763 shares during the last quarter. Finally, Pitcairn Co. boosted its holdings in IDACORP by 2.3% in the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock worth $495,000 after purchasing an additional 107 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IDA shares. Morgan Stanley raised their target price on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America increased their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Jefferies Financial Group reduced their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Finally, UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $120.50.

IDACORP Trading Up 1.3 %

Shares of IDACORP stock opened at $113.50 on Thursday. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.42. The company’s fifty day simple moving average is $112.62 and its 200-day simple moving average is $110.04. 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 (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. As a group, sell-side analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.03%. IDACORP’s dividend payout ratio is currently 62.77%.

IDACORP Company 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.