Pring Turner Capital Group Inc. Has $2.79 Million Stake in IDACORP, Inc. (NYSE:IDA)

Pring Turner Capital Group Inc. lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,520 shares of the energy company’s stock after selling 1,231 shares during the quarter. IDACORP accounts for about 1.9% of Pring Turner Capital Group Inc.’s holdings, making the stock its 26th biggest position. Pring Turner Capital Group Inc.’s holdings in IDACORP were worth $2,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of IDA. Legacy Investment Solutions LLC bought a new stake in IDACORP during the third quarter valued at $25,000. MassMutual Private Wealth & Trust FSB boosted its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc boosted its position in IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky boosted its position in IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on IDA shares. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group cut their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, 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 research report on Friday, December 13th. One research 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. According to MarketBeat.com, IDACORP has an average rating of “Hold” and a consensus target price of $116.20.

IDACORP Price Performance

IDA stock opened at $114.44 on Tuesday. The stock has a market capitalization of $6.10 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The company’s 50-day moving average is $109.92 and its 200-day moving average is $108.09. 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, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42.

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 net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. Equities research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.01%. IDACORP’s payout ratio is 62.77%.

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.