IDACORP, Inc. (NYSE:IDA) Stock Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of IDACORP, Inc. (NYSE:IDA) by 12.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,951 shares of the energy company’s stock after purchasing an additional 973 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IDACORP were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in IDACORP in the third quarter worth about $40,000. Signaturefd LLC boosted its position in IDACORP by 24.2% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock valued at $110,000 after purchasing an additional 229 shares during the period. Selway Asset Management bought a new position in IDACORP during the 3rd quarter worth $118,000. CENTRAL TRUST Co lifted its stake in IDACORP by 371.7% in the third quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock valued at $119,000 after buying an additional 1,000 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of IDACORP by 13.5% during the fourth quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock valued at $129,000 after acquiring an additional 164 shares during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.1 %

IDACORP stock opened at $94.60 on Monday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. The company has a 50 day moving average price of $90.86 and a 200 day moving average price of $93.99. 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, Inc. has a 52 week low of $86.43 and a 52 week high of $112.91.

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

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is currently 64.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research note on Monday, January 22nd. Mizuho cut their price objective on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. StockNews.com raised shares of IDACORP to a “sell” rating in a research note on Friday. Finally, TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.80.

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.