IDACORP, Inc. (NYSE:IDA) Shares Bought by Trust Point Inc.

Trust Point Inc. raised its holdings in IDACORP, Inc. (NYSE:IDA) by 34.1% in the fourth quarter, Holdings Channel reports. The fund owned 9,892 shares of the energy company’s stock after buying an additional 2,518 shares during the period. Trust Point Inc.’s holdings in IDACORP were worth $1,081,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Diversified Trust Co purchased a new position in IDACORP in the 4th quarter valued at approximately $704,000. Algert Global LLC boosted its position in IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after buying an additional 10,550 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after buying an additional 19,274 shares during the period. GSA Capital Partners LLP purchased a new position in IDACORP in the 3rd quarter valued at approximately $3,228,000. Finally, Charles Schwab Investment Management Inc. boosted its position in IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after buying an additional 35,651 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $110.70 on Tuesday. The company’s fifty day simple moving average is $111.16 and its 200-day simple moving average is $106.75. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week 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 company has a market cap of $5.90 billion, a PE ratio of 20.54, a P/E/G ratio of 2.25 and a beta of 0.65.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.11%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is 63.82%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IDA shares. Wells Fargo & Company lifted their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. 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 research report on Tuesday, January 28th. One 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.