Y Intercept Hong Kong Ltd Invests $882,000 in IDACORP, Inc. (NYSE:IDA)

Y Intercept Hong Kong Ltd purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,074 shares of the energy company’s stock, valued at approximately $882,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of IDACORP by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the period. State Street Corp grew its stake in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the period. Geode Capital Management LLC grew its stake in shares of IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after purchasing an additional 36,063 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of IDACORP by 14.2% during the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock worth $59,509,000 after purchasing an additional 67,568 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

NYSE:IDA opened at $115.26 on Friday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average is $110.25 and its two-hundred day moving average is $108.29. IDACORP, Inc. has a 12-month low of $86.47 and a 12-month high of $120.42.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. Research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 62.77%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Morgan Stanley boosted 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. Bank of America upgraded shares of IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and a consensus price target of $116.20.

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.