1,947 Shares in IDACORP, Inc. (NYSE:IDA) Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,947 shares of the energy company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently modified their holdings of IDA. M&T Bank Corp grew its stake in IDACORP by 0.8% in the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock worth $1,133,000 after buying an additional 92 shares in the last quarter. CENTRAL TRUST Co raised its position in shares of IDACORP by 13.7% during the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company’s stock valued at $91,000 after buying an additional 100 shares in the last quarter. Trust Point Inc. grew its position in IDACORP by 1.4% in the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. grew its position in IDACORP by 7.5% in the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after acquiring an additional 106 shares in the last quarter. Finally, Pitcairn Co. raised its position in IDACORP by 2.3% during the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IDA shares. Morgan Stanley upped their price objective on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. 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’s stock. According to MarketBeat, IDACORP currently has an average rating of “Hold” and a consensus price target of $116.20.

IDACORP Stock Performance

NYSE:IDA opened at $109.70 on Friday. The firm has a market cap of $5.84 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.28 and a beta of 0.65. IDACORP, Inc. has a fifty-two week low of $86.47 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 business has a 50 day moving average price of $110.03 and a 200-day moving average price of $107.58.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.14%. IDACORP’s 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.