Kestra Investment Management LLC Invests $225,000 in IDACORP, Inc. (NYSE:IDA)

Kestra Investment Management LLC acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the third quarter, HoldingsChannel reports. The firm acquired 2,187 shares of the energy company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in IDACORP in the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP in the second quarter valued at approximately $35,000. Avior Wealth Management LLC increased its stake in shares of IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the period. Eastern Bank acquired a new position in shares of IDACORP during the third quarter valued at approximately $52,000. Finally, 1620 Investment Advisors Inc. bought a new stake in IDACORP during the second quarter worth approximately $71,000. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Down 1.3 %

Shares of IDACORP stock opened at $116.88 on Tuesday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The firm has a market capitalization of $6.23 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average is $108.25 and its 200-day moving average is $101.26.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) 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 company had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same quarter in the previous year, the firm posted $2.07 EPS. Equities analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a $0.86 dividend. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.94%. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Analysts Set New Price Targets

IDA has been the subject of a number of research reports. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Morgan Stanley raised their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America upgraded shares of 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 research report on Tuesday, November 5th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, Jefferies Financial Group started coverage on shares of IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $108.83.

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.