AMG National Trust Bank Has $1.67 Million Stake in IDACORP, Inc. (NYSE:IDA)

AMG National Trust Bank grew its stake in IDACORP, Inc. (NYSE:IDA) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,248 shares of the energy company’s stock after buying an additional 98 shares during the period. AMG National Trust Bank’s holdings in IDACORP were worth $1,670,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Reaves W H & Co. Inc. lifted its holdings in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock worth $109,103,000 after purchasing an additional 429,276 shares during the last quarter. Wellington Management Group LLP raised its position in shares of IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after purchasing an additional 359,553 shares during the period. Raymond James Financial Inc. bought a new stake in shares of IDACORP during the 4th quarter worth $37,104,000. State Street Corp boosted its holdings in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after buying an additional 86,642 shares during the period. Finally, Principal Financial Group Inc. grew its stake in IDACORP by 14.2% in the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock valued at $59,509,000 after buying an additional 67,568 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.6 %

NYSE IDA opened at $113.14 on Friday. The firm has a 50-day simple moving average of $110.83 and a 200 day simple moving average of $108.77. 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 stock has a market cap of $6.11 billion, a PE ratio of 20.65, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $88.67 and a twelve month high of $120.42.

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

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is 62.77%.

Analysts Set New Price Targets

A number of research firms have weighed in on IDA. Jefferies Financial Group cut their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Bank of America boosted their price objective on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley raised their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $118.20.

IDACORP 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.