Empowered Funds LLC Invests $210,000 in IDACORP, Inc. (NYSE:IDA)

Empowered Funds LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,920 shares of the energy company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently made changes to their positions in IDA. MassMutual Private Wealth & Trust FSB raised its stake in IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Legacy Investment Solutions LLC bought a new stake in IDACORP in the 3rd quarter valued at about $25,000. Versant Capital Management Inc raised its stake in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the period. Independence Bank of Kentucky raised its stake in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after acquiring an additional 225 shares during the period. Finally, Avior Wealth Management LLC raised its stake in IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IDA has been the topic of several analyst reports. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Morgan Stanley upped their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.20.

IDACORP Stock Up 1.1 %

Shares of IDACORP stock opened at $113.98 on Friday. 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 52-week low of $86.47 and a 52-week high of $120.42. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 2.29 and a beta of 0.65. The company’s 50 day moving average price is $109.90 and its 200-day moving average price is $107.91.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. Equities research analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s payout ratio is 63.82%.

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.