Cetera Advisor Networks LLC purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,474 shares of the energy company’s stock, valued at approximately $238,000.
Several other hedge funds also recently modified their holdings of the company. CWM LLC increased its stake in shares of IDACORP by 53.2% during the 4th quarter. CWM LLC now owns 334 shares of the energy company’s stock worth $32,000 after purchasing an additional 116 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in IDACORP by 4.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,007 shares of the energy company’s stock valued at $385,000 after buying an additional 180 shares in the last quarter. Advisors Asset Management Inc. grew its stake in IDACORP by 7.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,720 shares of the energy company’s stock valued at $217,000 after buying an additional 195 shares in the last quarter. Sei Investments Co. grew its stake in IDACORP by 2.6% in the 4th quarter. Sei Investments Co. now owns 9,147 shares of the energy company’s stock valued at $881,000 after buying an additional 234 shares in the last quarter. Finally, John G Ullman & Associates Inc. grew its stake in IDACORP by 0.6% in the 4th quarter. John G Ullman & Associates Inc. now owns 45,009 shares of the energy company’s stock valued at $4,322,000 after buying an additional 250 shares in the last quarter. Institutional investors own 75.70% of the company’s stock.
Shares of NYSE:IDA opened at $100.28 on Thursday. The firm has a fifty day moving average price of $94.54 and a two-hundred day moving average price of $90.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.26 and a quick ratio of 1.92. IDACORP, Inc. has a one year low of $78.91 and a one year high of $102.96. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 7.40 and a beta of 0.43.
The company also recently declared a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 5th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, February 4th. IDACORP’s payout ratio is 61.61%.
Separately, Wells Fargo & Company lowered shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $95.00 to $94.00 in a research note on Wednesday, January 6th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. IDACORP currently has a consensus rating of “Buy” and a consensus price target of $101.75.
IDACORP, Inc 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, Nevada, and Oregon.
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