Thrivent Financial for Lutherans Buys 262 Shares of IDACORP, Inc. (NYSE:IDA)

Thrivent Financial for Lutherans lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 12,511 shares of the energy company’s stock after acquiring an additional 262 shares during the quarter. Thrivent Financial for Lutherans’ holdings in IDACORP were worth $1,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Clean Energy Transition LLP bought a new stake in shares of IDACORP in the 2nd quarter worth approximately $49,103,000. Nuance Investments LLC lifted its stake in IDACORP by 19.0% in the second 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. Deprince Race & Zollo Inc. boosted its position in IDACORP by 30.8% during the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock valued at $53,667,000 after buying an additional 135,793 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of IDACORP during the second quarter valued at about $8,032,000. Finally, F M Investments LLC purchased a new position in shares of IDACORP in the second quarter worth about $5,236,000. Institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IDA shares. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Morgan Stanley raised their price target on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.83.

IDACORP Price Performance

Shares of NYSE IDA opened at $118.47 on Monday. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42. The stock has a market capitalization of $6.31 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.64 and a beta of 0.60. The company’s 50-day moving average is $108.25 and its 200 day moving average is $101.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last posted 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 return on equity of 9.17% and a net margin of 15.35%. The firm had revenue of $528.53 million for the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter last year, the company posted $2.07 EPS. On average, sell-side analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be issued a $0.86 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.90%. IDACORP’s dividend payout ratio is 63.82%.

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.