IDACORP, Inc. (NYSE:IDA) Shares Acquired by Caprock Group LLC

Caprock Group LLC boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 7.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,343 shares of the energy company’s stock after purchasing an additional 239 shares during the quarter. Caprock Group LLC’s holdings in IDACORP were worth $345,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IDA. Assenagon Asset Management S.A. purchased a new position in shares of IDACORP in the 2nd quarter valued at $8,032,000. Tidal Investments LLC boosted its stake in IDACORP by 120.6% in the first quarter. Tidal Investments LLC now owns 9,341 shares of the energy company’s stock valued at $867,000 after acquiring an additional 5,106 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of IDACORP by 25.1% during the first quarter. Westwood Holdings Group Inc. now owns 256,446 shares of the energy company’s stock worth $23,821,000 after purchasing an additional 51,521 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of IDACORP during the second quarter worth about $1,833,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of IDACORP in the 3rd quarter valued at about $3,228,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

IDACORP Stock Up 0.1 %

Shares of NYSE:IDA opened at $118.91 on Friday. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.02. The firm’s 50-day simple moving average is $106.71 and its 200-day simple moving average is $100.51. The company has a market cap of $6.33 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.64 and a beta of 0.60. 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 (NYSE:IDA) last released its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period last year, the business posted $2.07 EPS. As a group, equities research analysts predict that IDACORP, Inc. will post 5.42 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. This is a positive change 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 annualized dividend and a dividend yield of 2.89%. IDACORP’s 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.