Barclays PLC Has $2.80 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Barclays PLC increased its position in IDACORP, Inc. (NYSE:IDA) by 90.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,184 shares of the energy company’s stock after acquiring an additional 12,944 shares during the quarter. Barclays PLC’s holdings in IDACORP were worth $2,803,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Raymond James Trust N.A. increased its position in IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after acquiring an additional 107 shares during the period. Bank of New York Mellon Corp increased its holdings in IDACORP by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 536,979 shares of the energy company’s stock valued at $50,020,000 after purchasing an additional 10,580 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in IDACORP by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,924 shares of the energy company’s stock worth $831,000 after purchasing an additional 876 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in IDACORP by 5.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 26,362 shares of the energy company’s stock worth $2,456,000 after buying an additional 1,469 shares during the period. Finally, F M Investments LLC bought a new stake in shares of IDACORP in the 2nd quarter valued at about $5,236,000. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDA. Wells Fargo & Company raised 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. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Mizuho upgraded 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 report on Friday, November 1st. Finally, Jefferies Financial Group assumed coverage on IDACORP in a report on Friday, September 20th. They set a “hold” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $111.00.

IDACORP Trading Up 0.3 %

IDA opened at $110.45 on Wednesday. The company has a market cap of $5.88 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. The company has a fifty day moving average price of $111.89 and a two-hundred day moving average price of $103.37. 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, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42.

IDACORP (NYSE:IDA) last posted its quarterly 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 analyst estimates of $524.39 million. During the same period last year, the company posted $2.07 earnings per share. Analysts predict that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is 63.82%.

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.