IDACORP, Inc. (NYSE:IDA) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 699,579 shares of the energy company’s stock after buying an additional 7,286 shares during the period. Charles Schwab Investment Management Inc. owned about 1.31% of IDACORP worth $76,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its position in IDACORP by 1.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,587 shares of the energy company’s stock valued at $1,916,000 after acquiring an additional 332 shares in the last quarter. Van ECK Associates Corp increased its stake in IDACORP by 7.0% during the third quarter. Van ECK Associates Corp now owns 14,494 shares of the energy company’s stock worth $1,522,000 after purchasing an additional 954 shares during the period. Atria Investments Inc increased its stake in IDACORP by 3.1% during the third quarter. Atria Investments Inc now owns 9,765 shares of the energy company’s stock worth $1,007,000 after purchasing an additional 297 shares during the period. Covestor Ltd increased its stake in IDACORP by 24.6% during the third quarter. Covestor Ltd now owns 799 shares of the energy company’s stock worth $82,000 after purchasing an additional 158 shares during the period. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in IDACORP during the third quarter worth about $209,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDACORP stock opened at $115.00 on Tuesday. IDACORP, Inc. has a one year low of $88.70 and a one year high of $120.42. The company has a market cap of $6.21 billion, a PE ratio of 20.99, a P/E/G ratio of 2.32 and a beta of 0.59. 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 simple moving average of $111.01 and a 200-day simple moving average of $109.02.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 62.77%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group cut their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Bank of America boosted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley boosted their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.20.

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.