MassMutual Private Wealth & Trust FSB Boosts Stock Holdings in IDACORP, Inc. (NYSE:IDA)

MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 98.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242 shares of the energy company’s stock after buying an additional 120 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in IDACORP were worth $26,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the period. State Street Corp lifted its holdings in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after acquiring an additional 86,642 shares during the last quarter. Millennium Management LLC increased its stake in IDACORP by 34.0% in the second quarter. Millennium Management LLC now owns 201,545 shares of the energy company’s stock valued at $18,774,000 after acquiring an additional 51,178 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in IDACORP by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock worth $64,583,000 after purchasing an additional 47,527 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of IDACORP by 59.3% during the 2nd quarter. Sei Investments Co. now owns 118,461 shares of the energy company’s stock valued at $11,035,000 after purchasing an additional 44,093 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Up 0.5 %

NYSE:IDA opened at $109.01 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The firm’s 50-day moving average price is $112.23 and its 200-day moving average price is $106.03. The company has a market capitalization of $5.81 billion, a PE ratio of 20.22, a P/E/G ratio of 2.21 and a beta of 0.65. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share 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 business had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter last year, the company posted $2.07 EPS. On average, equities analysts predict that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Announces Dividend

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

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley upped their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.