Orion Portfolio Solutions LLC Has $1.85 Million Stock Position in IDACORP, Inc. (NYSE:IDA)

Orion Portfolio Solutions LLC lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,963 shares of the energy company’s stock after selling 209 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in IDACORP were worth $1,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in IDACORP during the third quarter worth $25,000. Versant Capital Management Inc increased its holdings in shares of 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 purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of 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 purchasing an additional 225 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of IDACORP during the 3rd quarter worth about $53,000. Institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

IDA has been the topic of several research analyst reports. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America raised their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley boosted their price target on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, UBS Group upped their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDACORP has a consensus rating of “Hold” and a consensus target price of $120.50.

IDACORP Trading Up 1.6 %

Shares of IDA stock opened at $119.27 on Thursday. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The stock’s fifty day moving average price is $113.26 and its two-hundred day moving average price is $110.49. 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 company has a market cap of $6.44 billion, a PE ratio of 21.76, a P/E/G ratio of 2.32 and a beta of 0.59.

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

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.88%. IDACORP’s dividend payout ratio is currently 62.77%.

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.