USA Financial Formulas Invests $355,000 in IDACORP, Inc. (NYSE:IDA)

USA Financial Formulas acquired a new position in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 3,252 shares of the energy company’s stock, valued at approximately $355,000.

A number of other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after buying an additional 359,553 shares during the last quarter. State Street Corp boosted its position in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of IDACORP by 3.9% during the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after purchasing an additional 36,063 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of IDACORP by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock valued at $64,583,000 after purchasing an additional 47,527 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of IDACORP by 5.4% during 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 in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Up 2.6 %

Shares of NYSE:IDA opened at $110.26 on Friday. The stock has a fifty day simple moving average of $113.10 and a two-hundred day simple moving average of $105.17. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.19 and a beta of 0.65. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month 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.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter in the prior year, the firm earned $2.07 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.12%. IDACORP’s dividend payout ratio is currently 63.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IDA shares. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price target on the stock. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price objective on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and an average price target of $111.00.

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.