Barclays PLC Buys 12,944 Shares of IDACORP, Inc. (NYSE:IDA)

Barclays PLC increased its stake in shares of IDACORP, Inc. (NYSE:IDA) by 90.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,184 shares of the energy company’s stock after buying an additional 12,944 shares during the period. Barclays PLC owned 0.05% of IDACORP worth $2,803,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Point Inc. lifted its position in IDACORP by 1.4% during the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after acquiring an additional 101 shares during the last quarter. Blue Trust Inc. increased its stake in shares of IDACORP by 7.5% during the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after purchasing an additional 106 shares during the period. Raymond James Trust N.A. lifted its holdings in IDACORP by 1.7% during the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after purchasing an additional 107 shares during the last quarter. Pitcairn Co. boosted its stake in IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after purchasing an additional 107 shares during the period. Finally, Fortem Financial Group LLC grew its holdings in IDACORP by 1.2% in the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after buying an additional 112 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

IDA has been the subject of a number of research reports. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective 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. Morgan Stanley raised their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average price target of $111.00.

IDACORP Trading Up 0.3 %

Shares of IDA stock opened at $110.45 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The company has a market cap of $5.88 billion, a PE ratio of 20.49, a P/E/G ratio of 2.51 and a beta of 0.64. The stock’s fifty day moving average price is $111.89 and its two-hundred day moving average price is $103.37.

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

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were given a $0.86 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.11%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

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.