Park Avenue Securities LLC Has $400,000 Holdings in IDACORP, Inc. (NYSE:IDA)

Park Avenue Securities LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 46.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,660 shares of the energy company’s stock after purchasing an additional 1,156 shares during the quarter. Park Avenue Securities LLC’s holdings in IDACORP were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDA. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in IDACORP in the third quarter valued at approximately $26,000. Versant Capital Management Inc raised its position in IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Avior Wealth Management LLC lifted its stake in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after purchasing an additional 117 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of IDACORP in the 3rd quarter valued at $52,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Morgan Stanley boosted their target price on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average price target of $114.60.

IDACORP Stock Performance

NYSE IDA opened at $109.01 on Friday. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.21 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $120.42. The stock has a fifty day simple moving average of $112.23 and a 200 day simple moving average of $105.93.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). The company had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the previous year, the company posted $2.07 EPS. Sell-side analysts expect that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.16%. IDACORP’s dividend payout ratio (DPR) is currently 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.