GW&K Investment Management LLC Has $78.88 Million Holdings in IDACORP, Inc. (NYSE:IDA)

GW&K Investment Management LLC cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 721,839 shares of the energy company’s stock after selling 2,928 shares during the quarter. GW&K Investment Management LLC owned 1.36% of IDACORP worth $78,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP during the 3rd quarter worth $25,000. Versant Capital Management Inc increased its position 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 worth $34,000 after purchasing an additional 301 shares during the period. Independence Bank of Kentucky increased 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 worth $44,000 after purchasing an additional 225 shares during the period. Finally, Avior Wealth Management LLC raised its stake in IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after purchasing an additional 117 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of IDACORP stock opened at $115.26 on Friday. The company’s 50 day moving average price is $110.25 and its two-hundred day moving average price is $108.29. The firm has a market capitalization of $6.22 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.32 and a beta of 0.65. IDACORP, Inc. has a fifty-two week low of $86.47 and a fifty-two week high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed 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 2.98%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 62.77%.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of analyst reports. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $116.20.

About IDACORP

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.