Westwood Holdings Group Inc. Boosts Position in IDACORP, Inc. (NYSE:IDA)

Westwood Holdings Group Inc. boosted its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,167 shares of the energy company’s stock after buying an additional 2,721 shares during the period. Westwood Holdings Group Inc. owned 0.49% of IDACORP worth $24,141,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in IDACORP by 50.3% during the fourth quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock worth $160,700,000 after buying an additional 546,818 shares during the period. Victory Capital Management Inc. increased its position in IDACORP by 1.7% during the second quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company’s stock worth $134,694,000 after buying an additional 23,925 shares during the period. Nuance Investments LLC increased its position in IDACORP by 19.0% during the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock worth $103,813,000 after buying an additional 178,294 shares during the period. First Trust Advisors LP increased its holdings in shares of IDACORP by 0.9% in the fourth quarter. First Trust Advisors LP now owns 761,621 shares of the energy company’s stock valued at $74,883,000 after purchasing an additional 7,008 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of IDACORP by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock valued at $64,583,000 after purchasing an additional 47,527 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Down 0.2 %

Shares of IDA stock opened at $102.22 on Friday. The business’s fifty day moving average price is $100.80 and its 200 day moving average price is $95.81. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $105.24. The firm has a market capitalization of $5.44 billion, a PE ratio of 20.53 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The firm had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same quarter in the prior year, the company posted $1.35 earnings per share. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were given a dividend of $0.83 per share. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.25%. IDACORP’s payout ratio is 66.67%.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their target price on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Bank of America initiated coverage on IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on IDACORP in a report on Friday. They issued a “hold” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and a consensus price target of $102.71.

IDACORP 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.