IDACORP, Inc. (NYSE:IDA) Short Interest Update

IDACORP, Inc. (NYSE:IDA) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,110,000 shares, an increase of 67.5% from the October 31st total of 662,600 shares. Based on an average trading volume of 327,000 shares, the short-interest ratio is currently 3.4 days.

Institutional Investors Weigh In On IDACORP

Large investors have recently made changes to their positions in the company. Tidal Investments LLC boosted its position in IDACORP by 40.3% during the 3rd quarter. Tidal Investments LLC now owns 15,341 shares of the energy company’s stock worth $1,582,000 after acquiring an additional 4,409 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of IDACORP during the third quarter valued at about $53,000. Sanctuary Advisors LLC lifted its holdings in IDACORP by 46.9% in the third quarter. Sanctuary Advisors LLC now owns 9,178 shares of the energy company’s stock worth $946,000 after purchasing an additional 2,930 shares during the period. Geode Capital Management LLC grew its position in IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after buying an additional 36,063 shares in the last quarter. Finally, M&T Bank Corp increased its stake in IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock valued at $1,133,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Up 0.7 %

NYSE:IDA opened at $118.74 on Friday. The company has a market cap of $6.33 billion, a PE ratio of 22.03, a P/E/G ratio of 2.65 and a beta of 0.60. The business’s 50 day moving average is $107.59 and its two-hundred day moving average is $100.95. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. IDACORP has a 52 week low of $86.43 and a 52 week high of $120.42.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period last year, the firm posted $2.07 earnings per share. On average, analysts predict that IDACORP will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 2.90%. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Analysts Set New Price Targets

IDA has been the subject of a number of research reports. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of IDACORP in a report on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $102.00 to $116.00 in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.83.

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.