IDACORP, Inc. (NYSE:IDA) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,641 shares of the energy company’s stock after purchasing an additional 132 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in IDACORP were worth $616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDA. Diversified Trust Co acquired a new position in shares of IDACORP during the fourth quarter worth approximately $704,000. Algert Global LLC boosted its position in IDACORP by 42.5% during the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after acquiring an additional 10,550 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of IDACORP during the fourth quarter valued at $913,000. Finally, JPMorgan Chase & Co. raised its stake in shares of IDACORP by 7.0% during the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock valued at $35,401,000 after purchasing an additional 22,485 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

IDA opened at $114.20 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The firm has a market cap of $6.16 billion, a PE ratio of 20.84, a P/E/G ratio of 2.32 and a beta of 0.59. The business has a fifty day simple moving average of $112.40 and a 200-day simple moving average of $109.95. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

Wall Street Analyst Weigh In

Several research firms have commented on IDA. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley raised their price objective on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Jefferies Financial Group decreased their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. UBS Group lifted their price target on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $120.50.

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.