8,393 Shares in IDACORP, Inc. (NYSE:IDA) Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,393 shares of the energy company’s stock, valued at approximately $917,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDA. M&T Bank Corp boosted its stake in shares of IDACORP by 0.8% during the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock valued at $1,133,000 after purchasing an additional 92 shares during the period. AMG National Trust Bank lifted its holdings in IDACORP by 0.6% during the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company’s stock valued at $1,670,000 after buying an additional 98 shares in the last quarter. CENTRAL TRUST Co boosted its position in IDACORP by 13.7% in the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company’s stock valued at $91,000 after buying an additional 100 shares during the period. Pitcairn Co. grew its stake in IDACORP by 2.3% in the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock worth $495,000 after acquiring an additional 107 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of IDACORP by 4.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company’s stock worth $311,000 after acquiring an additional 112 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

IDA opened at $114.32 on Friday. The firm has a market capitalization of $6.17 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The business’s 50-day moving average is $112.22 and its two-hundred day moving average is $109.85. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.42.

IDACORP (NYSE:IDA) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s payout ratio is presently 62.77%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Morgan Stanley upped their target price on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday. Bank of America raised their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. UBS Group upped their price objective on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Guggenheim raised shares of 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, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $120.50.

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.