4,988 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Tumwater Wealth Management LLC

Tumwater Wealth Management LLC bought a new position in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,988 shares of the energy company’s stock, valued at approximately $545,000. IDACORP accounts for about 0.3% of Tumwater Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding.

A number of other institutional investors also recently bought and sold shares of IDA. Envestnet Portfolio Solutions Inc. increased its stake in IDACORP by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company’s stock worth $616,000 after buying an additional 132 shares in the last quarter. Natixis Advisors LLC increased its stake in IDACORP by 5.1% in the 4th quarter. Natixis Advisors LLC now owns 59,541 shares of the energy company’s stock worth $6,507,000 after buying an additional 2,893 shares in the last quarter. Hilton Capital Management LLC increased its stake in IDACORP by 4.9% in the 4th quarter. Hilton Capital Management LLC now owns 16,930 shares of the energy company’s stock worth $1,850,000 after buying an additional 788 shares in the last quarter. Atala Financial Inc purchased a new stake in IDACORP in the 4th quarter worth $269,000. Finally, Vestcor Inc purchased a new stake in IDACORP in the 4th quarter worth $347,000. 89.10% of the stock is owned by institutional investors.

IDACORP Trading Up 0.9 %

IDA opened at $116.05 on Friday. The firm has a market cap of $6.26 billion, a P/E ratio of 21.18, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 12 month low of $88.70 and a 12 month high of $120.42. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $111.52 and a 200 day moving average of $109.36.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.96%. The ex-dividend date was Wednesday, February 5th. IDACORP’s payout ratio is currently 62.77%.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of analyst reports. Morgan Stanley increased their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Bank of America raised their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Jefferies Financial Group cut their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Finally, Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One investment 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, IDACORP presently has a consensus rating of “Hold” and an average price target of $118.20.

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.