Park Avenue Securities LLC Acquires 1,156 Shares of IDACORP, Inc. (NYSE:IDA)

Park Avenue Securities LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,660 shares of the energy company’s stock after purchasing an additional 1,156 shares during the quarter. Park Avenue Securities LLC’s holdings in IDACORP were worth $400,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Diversified Trust Co acquired a new stake in shares of IDACORP in the 4th quarter valued at about $704,000. Algert Global LLC raised its position in IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after buying an additional 10,550 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after acquiring an additional 19,274 shares in the last quarter. GSA Capital Partners LLP acquired a new position in IDACORP during the 3rd quarter worth approximately $3,228,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after acquiring an additional 35,651 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

IDA opened at $109.01 on Friday. The business has a 50 day moving average of $112.23 and a 200-day moving average of $105.93. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.21 and a beta of 0.65. 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 posted its earnings results 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). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same quarter in the prior year, the business posted $2.07 EPS. On average, equities research analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 63.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IDA. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $114.60.

About IDACORP

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.