IDACORP, Inc. (NYSE:IDA) Shares Bought by LPL Financial LLC

LPL Financial LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 38.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,821 shares of the energy company’s stock after acquiring an additional 7,985 shares during the quarter. LPL Financial LLC’s holdings in IDACORP were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in IDA. State Street Corp lifted its stake in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after buying an additional 429,276 shares during the period. Geode Capital Management LLC lifted its position in IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after acquiring an additional 36,063 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in IDACORP by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company’s stock worth $76,450,000 after acquiring an additional 7,286 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in IDACORP by 14.2% in the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock valued at $59,509,000 after acquiring an additional 67,568 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDACORP stock opened at $117.41 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.84. The firm’s 50-day simple moving average is $114.28 and its 200-day simple moving average is $111.20. The firm has a market cap of $6.34 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56.

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

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IDA shares. Bank of America boosted their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. UBS Group raised their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley raised their price objective on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, IDACORP presently has an average rating of “Hold” and an average target price of $120.50.

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.