Alaska Permanent Fund Corp Buys 1,189 Shares of IDACORP, Inc. (NYSE:IDA)

Alaska Permanent Fund Corp lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,405 shares of the energy company’s stock after purchasing an additional 1,189 shares during the period. Alaska Permanent Fund Corp owned about 0.25% of IDACORP worth $12,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IDA. Headlands Technologies LLC purchased a new position in shares of IDACORP during the third quarter worth about $40,000. Spirit of America Management Corp NY bought a new position in shares of IDACORP during the third quarter valued at $56,000. CWM LLC increased its holdings in IDACORP by 22.2% in the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after buying an additional 180 shares in the last quarter. Signaturefd LLC boosted its position in IDACORP by 24.2% in the third quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock worth $110,000 after purchasing an additional 229 shares during the last quarter. Finally, Selway Asset Management purchased a new position in shares of IDACORP during the 3rd quarter valued at about $118,000. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IDA shares. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Wells Fargo & Company decreased their target price on IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. Guggenheim downgraded IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 22nd. Mizuho dropped their price objective on IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. Finally, Morgan Stanley boosted their target price on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, IDACORP has a consensus rating of “Hold” and an average target price of $93.80.

IDACORP Trading Up 0.0 %

Shares of NYSE:IDA traded up $0.03 during midday trading on Thursday, hitting $94.35. The company had a trading volume of 17,236 shares, compared to its average volume of 373,639. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 18.35 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $112.91. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. The firm has a fifty day simple moving average of $90.49 and a 200 day simple moving average of $94.05.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same period in the prior year, the business earned $0.83 earnings per share. On average, analysts predict that IDACORP, Inc. will post 5.32 EPS for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.52%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is currently 64.59%.

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.