Reaves W H & Co. Inc. Boosts Holdings in IDACORP, Inc. (NYSE:IDA)

Reaves W H & Co. Inc. grew its position in IDACORP, Inc. (NYSE:IDA) by 75.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 998,383 shares of the energy company’s stock after acquiring an additional 429,276 shares during the period. IDACORP comprises approximately 2.9% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 13th biggest position. Reaves W H & Co. Inc.’s holdings in IDACORP were worth $109,103,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IDA. Wealth Enhancement Advisory Services LLC raised its position in shares of IDACORP by 7.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company’s stock worth $532,000 after purchasing an additional 372 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of IDACORP by 6.1% in the 3rd quarter. New York State Teachers Retirement System now owns 82,016 shares of the energy company’s stock valued at $8,455,000 after buying an additional 4,723 shares during the period. US Bancorp DE grew its stake in shares of IDACORP by 4.8% in the 3rd quarter. US Bancorp DE now owns 24,680 shares of the energy company’s stock valued at $2,544,000 after buying an additional 1,136 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of IDACORP by 1.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 18,587 shares of the energy company’s stock valued at $1,916,000 after buying an additional 332 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of IDACORP by 7.0% during the 3rd quarter. Van ECK Associates Corp now owns 14,494 shares of the energy company’s stock worth $1,522,000 after purchasing an additional 954 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

IDA has been the subject of a number of research analyst reports. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday. Jefferies Financial Group lowered their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Finally, Morgan Stanley raised their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $118.20.

IDACORP Price Performance

IDACORP stock opened at $119.12 on Tuesday. IDACORP, Inc. has a 52-week low of $86.64 and a 52-week high of $120.42. The firm has a fifty day moving average of $110.62 and a 200-day moving average of $108.62. The firm has a market capitalization of $6.43 billion, a P/E ratio of 21.74, a PEG ratio of 2.32 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. As a group, analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.89%. IDACORP’s payout ratio is currently 62.77%.

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.