3,176 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Vestcor Inc

Vestcor Inc acquired a new position in IDACORP, Inc. (NYSE:IDA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,176 shares of the energy company’s stock, valued at approximately $347,000.

Other institutional investors have also recently bought and sold shares of the company. M&T Bank Corp boosted its holdings in shares of IDACORP by 0.8% in the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock worth $1,133,000 after buying an additional 92 shares during the last quarter. AMG National Trust Bank raised its position in IDACORP by 0.6% in the fourth quarter. AMG National Trust Bank now owns 15,248 shares of the energy company’s stock worth $1,670,000 after acquiring an additional 98 shares during the period. CENTRAL TRUST Co grew its position in shares of IDACORP by 13.7% during the 4th quarter. CENTRAL TRUST Co now owns 832 shares of the energy company’s stock valued at $91,000 after acquiring an additional 100 shares during the period. Pitcairn Co. increased its stake in shares of IDACORP by 2.3% during the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock worth $495,000 after purchasing an additional 107 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company’s stock worth $311,000 after purchasing an additional 112 shares during the period. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IDA. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group cut their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. Bank of America boosted their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, Morgan Stanley increased their target price 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average target price of $118.20.

IDACORP Stock Performance

NYSE:IDA opened at $116.01 on Tuesday. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.42. The business’s fifty day moving average is $111.69 and its 200 day moving average is $109.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last announced its quarterly earnings results 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 firm had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. Research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Wednesday, February 5th. 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.