Creative Planning Has $1.46 Million Stake in IDACORP, Inc. (NYSE:IDA)

Creative Planning grew its position in IDACORP, Inc. (NYSE:IDA) by 97.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,655 shares of the energy company’s stock after acquiring an additional 7,712 shares during the period. Creative Planning’s holdings in IDACORP were worth $1,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. First Eagle Investment Management LLC boosted its stake in IDACORP by 18.4% in the first quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company’s stock worth $12,065,000 after purchasing an additional 20,184 shares in the last quarter. Buckley Wealth Management LLC lifted its position in IDACORP by 273.1% during the 1st quarter. Buckley Wealth Management LLC now owns 38,425 shares of the energy company’s stock worth $3,569,000 after buying an additional 28,125 shares in the last quarter. Sei Investments Co. grew its holdings in IDACORP by 90.0% during the 1st quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock worth $6,908,000 after acquiring an additional 35,217 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in IDACORP during the 1st quarter worth about $5,087,000. Finally, Assenagon Asset Management S.A. acquired a new stake in IDACORP in the 2nd quarter valued at about $8,032,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on IDA. Jefferies Financial Group initiated coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 target price for the company. Bank of America started coverage on IDACORP in a report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price objective on the stock. Wells Fargo & Company upped their price objective on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Morgan Stanley lifted their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $103.57.

IDACORP Price Performance

IDA opened at $101.05 on Wednesday. The company has a fifty day moving average price of $102.37 and a two-hundred day moving average price of $96.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a market capitalization of $5.38 billion, a PE ratio of 20.29, a P/E/G ratio of 3.46 and a beta of 0.60. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $105.24.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The business had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. During the same period in the previous year, the firm earned $1.35 earnings per share. As a group, analysts anticipate that IDACORP, Inc. will post 5.39 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were given a $0.83 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.29%. IDACORP’s dividend payout ratio is 66.67%.

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.