Trek Financial LLC Purchases Shares of 2,129 IDACORP, Inc. (NYSE:IDA)

Trek Financial LLC acquired a new position in IDACORP, Inc. (NYSE:IDA) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,129 shares of the energy company’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new position in IDACORP in the first quarter valued at $29,000. EverSource Wealth Advisors LLC acquired a new position in IDACORP during the fourth quarter worth about $33,000. Belpointe Asset Management LLC acquired a new stake in shares of IDACORP in the fourth quarter valued at approximately $35,000. Dark Forest Capital Management LP purchased a new stake in IDACORP in the 4th quarter valued at $37,000. Finally, Cohen & Steers Inc. raised its stake in IDACORP by 33.8% during the first quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock worth $46,000 after purchasing an additional 101 shares during the period. 83.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on IDA shares. Mizuho reduced their target price on IDACORP from $107.00 to $105.00 in a research report on Wednesday, August 9th. Wells Fargo & Company reduced their price objective on IDACORP from $112.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. Finally, StockNews.com began coverage on shares of IDACORP in a research note on Sunday, August 20th. They issued a “sell” rating for the company.

IDACORP Trading Up 0.4 %

NYSE IDA opened at $95.28 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.27. IDACORP, Inc. has a 12 month low of $92.40 and a 12 month high of $112.96. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 5.12 and a beta of 0.61. The firm’s fifty day moving average price is $99.44 and its 200 day moving average price is $104.07.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 3rd. The energy company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.13. The business had revenue of $413.84 million for the quarter, compared to analyst estimates of $359.32 million. IDACORP had a net margin of 15.31% and a return on equity of 9.67%. During the same period last year, the firm posted $1.27 earnings per share. On average, sell-side analysts expect that IDACORP, Inc. will post 5.03 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 2nd were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Tuesday, August 1st. IDACORP’s payout ratio is currently 58.63%.

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.