Nisa Investment Advisors LLC Has $10.96 Million Stake in IDACORP, Inc. (NYSE:IDA)

Nisa Investment Advisors LLC lifted its stake in IDACORP, Inc. (NYSE:IDA) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,297 shares of the energy company’s stock after purchasing an additional 1,000 shares during the quarter. Nisa Investment Advisors LLC owned 0.19% of IDACORP worth $10,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Ballentine Partners LLC acquired a new stake in shares of IDACORP during the 4th quarter valued at $313,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of IDACORP by 98.4% during the fourth 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. UMB Bank n.a. boosted its position in IDACORP by 6.0% during the fourth quarter. UMB Bank n.a. now owns 2,404 shares of the energy company’s stock valued at $263,000 after purchasing an additional 137 shares during the last quarter. JGP Wealth Management LLC purchased a new position in IDACORP in the fourth quarter valued at about $206,000. Finally, Heritage Family Offices LLP acquired a new position in IDACORP in the 4th quarter worth about $221,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Up 0.9 %

IDA stock opened at $108.65 on Friday. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. The company has a 50-day moving average of $112.39 and a two-hundred day moving average of $105.82. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). The business had revenue of $528.53 million for the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same quarter in the previous year, the company earned $2.07 EPS. As a group, equities research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IDA shares. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their target price on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $114.60.

About IDACORP

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.