Kentucky Trust Co Invests $404,000 in IDACORP, Inc. (NYSE:IDA)

Kentucky Trust Co acquired a new position in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,700 shares of the energy company’s stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDA. Legacy Investment Solutions LLC purchased a new position in shares of IDACORP in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC purchased a new position in shares of IDACORP in the 3rd quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB grew its position 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 buying an additional 120 shares during the last quarter. Versant Capital Management Inc grew its position 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 buying an additional 301 shares during the last quarter. Finally, Independence Bank of Kentucky grew its position in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of NYSE IDA opened at $111.39 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $120.42. The company has a 50 day simple moving average of $110.32 and a two-hundred day simple moving average of $107.38. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.28 and a beta of 0.65.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.09%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 63.82%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Finally, Morgan Stanley boosted 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, IDACORP currently has a consensus rating of “Hold” and an average target price of $116.20.

IDACORP 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.