Cwm LLC Boosts Holdings in IDACORP, Inc. (NYSE:IDA)

Cwm LLC boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 63.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,475 shares of the energy company’s stock after purchasing an additional 570 shares during the quarter. Cwm LLC’s holdings in IDACORP were worth $152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its position in shares of IDACORP by 18.4% in the first quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company’s stock worth $12,065,000 after buying an additional 20,184 shares in the last quarter. Sei Investments Co. raised its holdings in shares of IDACORP by 90.0% during the 1st quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock worth $6,908,000 after acquiring an additional 35,217 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of IDACORP during the 1st quarter valued at approximately $5,087,000. Assenagon Asset Management S.A. purchased a new position in shares of IDACORP in the second quarter valued at $8,032,000. Finally, Duality Advisers LP bought a new stake in IDACORP in the first quarter worth $837,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of NYSE:IDA opened at $104.77 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $105.25. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.38 and a beta of 0.60. The firm’s 50-day moving average is $102.79 and its 200 day moving average is $97.76.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The firm had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. During the same period in the prior year, the business posted $1.35 earnings per share. Research analysts predict that IDACORP, Inc. will post 5.39 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.28%. This is a boost from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. IDACORP’s payout ratio is 69.08%.

Analyst Upgrades and Downgrades

Several research firms have commented on IDA. Jefferies Financial Group assumed coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price objective for the company. Bank of America started coverage on shares of IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price target for the company. Morgan Stanley lifted their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average target price of $104.83.

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.