1,255 Shares in IDACORP, Inc. (NYSE:IDA) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. acquired a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,255 shares of the energy company’s stock, valued at approximately $137,000.

A number of other institutional investors also recently bought and sold shares of the company. Diversified Trust Co acquired a new position in shares of IDACORP during the 4th quarter worth $704,000. Assenagon Asset Management S.A. purchased a new position in IDACORP during the 4th quarter valued at about $913,000. JPMorgan Chase & Co. raised its position in IDACORP by 7.0% during the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after acquiring an additional 22,485 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of IDACORP in the fourth quarter valued at about $213,000. Finally, Van ECK Associates Corp grew its position in shares of IDACORP by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after purchasing an additional 2,056 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group raised their price target on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley upped their price objective on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Bank of America lifted their price objective on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group cut their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, IDACORP currently has an average rating of “Hold” and an average price target of $120.50.

IDACORP Stock Performance

NYSE IDA opened at $116.23 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $6.27 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business’s 50-day moving average price is $112.92 and its 200 day moving average price is $110.33. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.42.

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

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.96%. IDACORP’s payout ratio is 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.