Kentucky Trust Co Invests $404,000 in IDACORP, Inc. (NYSE:IDA)

Kentucky Trust Co bought a new position in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,700 shares of the energy company’s stock, valued at approximately $404,000.

Several other institutional investors have also recently made changes to their positions in IDA. Sanctuary Advisors LLC bought a new stake in shares of IDACORP in the 2nd quarter worth about $591,000. CWM LLC lifted its holdings in shares of IDACORP by 63.0% in the 3rd quarter. CWM LLC now owns 1,475 shares of the energy company’s stock worth $152,000 after acquiring an additional 570 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of IDACORP by 6.3% in the 3rd quarter. Inspire Investing LLC now owns 4,003 shares of the energy company’s stock worth $413,000 after acquiring an additional 239 shares during the last quarter. Creative Planning lifted its holdings in shares of IDACORP by 9.3% in the 3rd quarter. Creative Planning now owns 17,104 shares of the energy company’s stock worth $1,763,000 after acquiring an additional 1,449 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in IDACORP during the 3rd quarter valued at about $26,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 1.0 %

NYSE IDA opened at $111.39 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. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.65. The company’s 50-day simple moving average is $110.32 and its two-hundred day simple moving average is $107.38. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IDA shares. Wells Fargo & Company lifted 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. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $102.00 to $116.00 in a report on Friday, November 1st. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Jefferies Financial Group decreased their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.20.

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.