Wealth Enhancement Advisory Services LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,156 shares of the energy company’s stock after acquiring an additional 372 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in IDACORP were worth $532,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in IDACORP during the third quarter worth approximately $26,000. Rise Advisors LLC grew its position in shares of IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after buying an additional 146 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in IDACORP during the 2nd quarter worth $35,000. Eastern Bank purchased a new stake in IDACORP in the third quarter valued at $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in IDACORP in the second quarter valued at $71,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.
IDACORP Price Performance
IDA stock opened at $113.83 on Friday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.48 and a beta of 0.60. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average of $103.83 and a 200-day moving average of $98.90. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $114.24.
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 issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.02%. IDACORP’s payout ratio is 63.82%.
Analysts Set New Price Targets
IDA has been the topic of a number of research reports. Morgan Stanley raised their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price on the stock. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, Wells Fargo & Company upped their target price on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.83.
View Our Latest Research Report on IDA
IDACORP 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.
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