Fox Run Management L.L.C. Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Fox Run Management L.L.C. purchased a new position in IDACORP, Inc. (NYSE:IDA) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 8,393 shares of the energy company’s stock, valued at approximately $917,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of IDACORP by 4.6% in the fourth quarter. Sei Investments Co. now owns 193,766 shares of the energy company’s stock worth $21,174,000 after acquiring an additional 8,604 shares during the period. American Century Companies Inc. boosted its holdings in IDACORP by 311.5% in the fourth quarter. American Century Companies Inc. now owns 15,661 shares of the energy company’s stock valued at $1,712,000 after purchasing an additional 11,855 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in IDACORP by 4.4% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 101,113 shares of the energy company’s stock worth $11,050,000 after purchasing an additional 4,217 shares during the period. Royal London Asset Management Ltd. raised its stake in shares of IDACORP by 0.7% during the 4th quarter. Royal London Asset Management Ltd. now owns 223,571 shares of the energy company’s stock valued at $24,432,000 after buying an additional 1,532 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of IDACORP by 7.0% in the fourth quarter. Xponance Inc. now owns 6,061 shares of the energy company’s stock worth $662,000 after buying an additional 399 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

NYSE:IDA opened at $114.32 on Friday. The company has a fifty day moving average of $112.22 and a two-hundred day moving average of $109.85. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The stock has a market capitalization of $6.17 billion, a PE ratio of 20.86, a P/E/G ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

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, 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 firm had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. As a group, research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 62.77%.

Analyst Ratings Changes

Several brokerages recently weighed in on IDA. UBS Group lifted their price target on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America boosted their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Jefferies Financial Group lowered their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley increased their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.50.

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.