Y Intercept Hong Kong Ltd Takes $882,000 Position in IDACORP, Inc. (NYSE:IDA)

Y Intercept Hong Kong Ltd acquired a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,074 shares of the energy company’s stock, valued at approximately $882,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Diversified Trust Co purchased a new position in shares of IDACORP in the fourth quarter valued at approximately $704,000. Algert Global LLC boosted its stake in shares of IDACORP by 42.5% in the third quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after purchasing an additional 10,550 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of IDACORP by 67.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after purchasing an additional 19,274 shares during the period. GSA Capital Partners LLP purchased a new position in shares of IDACORP in the third quarter valued at approximately $3,228,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after purchasing an additional 35,651 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

IDA has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of 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 upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group decreased their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, IDACORP has a consensus rating of “Hold” and an average target price of $116.20.

IDACORP Stock Down 0.1 %

Shares of NYSE:IDA opened at $115.26 on Friday. The company has a market capitalization of $6.22 billion, a PE ratio of 21.03, a P/E/G ratio of 2.32 and a beta of 0.65. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a twelve month low of $86.47 and a twelve month high of $120.42. The firm has a 50 day simple moving average of $110.25 and a 200-day simple moving average of $108.29.

IDACORP (NYSE:IDA) last announced 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. 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%. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.98%. IDACORP’s payout ratio is 62.77%.

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.