Cerity Partners LLC Has $2.48 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Cerity Partners LLC raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,728 shares of the energy company’s stock after purchasing an additional 213 shares during the period. Cerity Partners LLC’s holdings in IDACORP were worth $2,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc increased its holdings in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after buying an additional 301 shares during the last quarter. Independence Bank of Kentucky raised its position in IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after acquiring an additional 225 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in IDACORP in the third quarter valued at approximately $53,000. Finally, Jones Financial Companies Lllp grew its position in IDACORP by 1,333.3% in the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company’s stock worth $56,000 after acquiring an additional 480 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDA. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group upped their target price on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley lifted their price target on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Finally, Bank of America increased their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, IDACORP currently has an average rating of “Hold” and a consensus price target of $120.50.

IDACORP Stock Up 0.2 %

Shares of IDA opened at $119.51 on Wednesday. The business’s 50 day simple moving average is $114.62 and its 200-day simple moving average is $111.43. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.84. The company has a market capitalization of $6.46 billion, a P/E ratio of 21.81, a PEG ratio of 2.32 and a beta of 0.56. 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 announced its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Wednesday, February 5th. 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.