Raymond James Financial Services Advisors Inc. Grows Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Raymond James Financial Services Advisors Inc. boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 31.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 17,518 shares of the energy company’s stock after acquiring an additional 4,202 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in IDACORP were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in IDACORP in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in IDACORP in the 3rd quarter valued at approximately $40,000. State of Wyoming grew its stake in IDACORP by 34.4% in the 2nd quarter. State of Wyoming now owns 426 shares of the energy company’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. Cohen & Steers Inc. grew its stake in IDACORP by 33.8% in the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after buying an additional 101 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in IDACORP in the 4th quarter valued at approximately $50,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a research report on Friday, February 16th. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, January 22nd. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price target on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Finally, Mizuho reduced their price target on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $93.80.

IDACORP Stock Up 0.7 %

Shares of NYSE:IDA opened at $91.66 on Friday. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $112.96. The firm has a fifty day moving average of $90.11 and a 200 day moving average of $94.17. The firm has a market capitalization of $4.65 billion, a PE ratio of 17.83 and a beta of 0.56. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The company had revenue of $411.95 million during the quarter, compared to analyst estimates of $429.84 million. During the same period in the previous year, the business earned $0.83 earnings per share. As a group, research analysts anticipate that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were given a $0.83 dividend. The ex-dividend date was Friday, February 2nd. This represents a $3.32 annualized dividend and a yield of 3.62%. IDACORP’s dividend payout ratio (DPR) is presently 64.59%.

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.