Cerity Partners LLC Has $2.42 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Cerity Partners LLC increased its stake in IDACORP, Inc. (NYSE:IDA) by 19.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,515 shares of the energy company’s stock after acquiring an additional 3,763 shares during the quarter. Cerity Partners LLC’s holdings in IDACORP were worth $2,424,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IDA. Clean Energy Transition LLP acquired a new position in shares of IDACORP in the 2nd quarter worth approximately $49,103,000. Nuance Investments LLC lifted its holdings in IDACORP by 19.0% in the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after buying an additional 178,294 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in IDACORP by 30.8% in the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock valued at $53,667,000 after buying an additional 135,793 shares during the period. Assenagon Asset Management S.A. bought a new stake in IDACORP during the second quarter valued at $8,032,000. Finally, F M Investments LLC acquired a new stake in IDACORP during the 2nd quarter worth about $5,236,000. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group assumed coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $108.83.

IDACORP Stock Down 0.2 %

IDA stock opened at $118.47 on Monday. The stock has a fifty day moving average of $108.25 and a 200-day moving average of $101.24. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.64 and a beta of 0.60.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The business had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter last year, the business posted $2.07 EPS. As a group, equities research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This is a boost from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 2.90%. IDACORP’s dividend payout ratio is currently 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.