2,187 Shares in IDACORP, Inc. (NYSE:IDA) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,187 shares of the energy company’s stock, valued at approximately $225,000.

Several other institutional investors also recently made changes to their positions in IDA. Trust Point Inc. raised its position in shares of IDACORP by 1.4% in the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after buying an additional 101 shares during the period. Blue Trust Inc. raised its holdings in shares of IDACORP by 7.5% in the 3rd 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 stake in shares of IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after purchasing an additional 107 shares in the last quarter. Pitcairn Co. grew its holdings in shares of IDACORP by 2.3% during the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock worth $495,000 after purchasing an additional 107 shares during the period. Finally, Fortem Financial Group LLC increased its position in IDACORP by 1.2% during the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock worth $866,000 after purchasing an additional 112 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IDA shares. Morgan Stanley boosted their price objective on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $108.83.

IDACORP Trading Down 1.3 %

NYSE IDA opened at $116.88 on Tuesday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $120.42. The company’s fifty day moving average price is $108.25 and its two-hundred day moving average price is $101.26.

IDACORP (NYSE:IDA) last issued 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). The company had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the previous year, the business posted $2.07 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th were given a $0.86 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Tuesday, November 5th. IDACORP’s dividend payout ratio (DPR) is presently 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.