Pring Turner Capital Group Inc. Has $2.79 Million Stake in IDACORP, Inc. (NYSE:IDA)

Pring Turner Capital Group Inc. trimmed its holdings in IDACORP, Inc. (NYSE:IDA) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,520 shares of the energy company’s stock after selling 1,231 shares during the period. IDACORP accounts for 1.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 26th largest position. Pring Turner Capital Group Inc.’s holdings in IDACORP were worth $2,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new position in IDACORP in the third quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB increased its stake in IDACORP by 98.4% in the fourth 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 last quarter. Versant Capital Management Inc increased its stake in IDACORP by 2,150.0% in the fourth 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 last quarter. Independence Bank of Kentucky increased its stake in IDACORP by 123.6% in the fourth 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 last quarter. Finally, Avior Wealth Management LLC increased its stake in IDACORP by 35.9% in the third 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 last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Bank of America raised 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 research note on Tuesday, November 5th. Mizuho raised shares of 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 research note on Friday, November 1st. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered their price target 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 investment 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 an average rating of “Hold” and an average target price of $116.20.

IDACORP Stock Up 0.2 %

Shares of NYSE:IDA opened at $114.44 on Tuesday. The company has a fifty day moving average of $109.92 and a 200-day moving average of $108.09. The company has a market capitalization of $6.10 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. 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.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be issued a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.01%. IDACORP’s payout ratio is 62.77%.

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.