AMG National Trust Bank Has $1.67 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

AMG National Trust Bank lifted its position in IDACORP, Inc. (NYSE:IDA) by 0.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,248 shares of the energy company’s stock after buying an additional 98 shares during the quarter. AMG National Trust Bank’s holdings in IDACORP were worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in IDACORP during the third quarter worth about $25,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Independence Bank of Kentucky grew its position in IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in IDACORP during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

IDACORP stock opened at $113.14 on Friday. The business’s 50-day simple moving average is $110.83 and its 200 day simple moving average is $108.77. 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 has a market cap of $6.11 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 12-month low of $88.67 and a 12-month high of $120.42.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. As a group, research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 62.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IDA shares. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America upped their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group dropped 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, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $118.20.

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.