Cwm LLC Has $98,000 Stock Position in IDACORP, Inc. (NYSE:IDA)

Cwm LLC increased its stake in shares of IDACORP, Inc. (NYSE:IDA) by 22.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 992 shares of the energy company’s stock after purchasing an additional 180 shares during the period. Cwm LLC’s holdings in IDACORP were worth $98,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in shares of IDACORP in the 3rd quarter valued at $101,858,000. River Road Asset Management LLC raised its position in shares of IDACORP by 335.2% during the third quarter. River Road Asset Management LLC now owns 632,457 shares of the energy company’s stock worth $59,230,000 after purchasing an additional 487,134 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of IDACORP by 32.1% during the 3rd quarter. Victory Capital Management Inc. now owns 921,287 shares of the energy company’s stock valued at $86,279,000 after purchasing an additional 223,722 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of IDACORP in the 4th quarter valued at approximately $16,759,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in IDACORP by 405.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 140,800 shares of the energy company’s stock worth $13,186,000 after buying an additional 112,959 shares during the period. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

NYSE:IDA opened at $96.76 on Wednesday. The stock’s 50-day simple moving average is $91.76 and its 200 day simple moving average is $93.98. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $111.26. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. The company has a market cap of $4.90 billion, a P/E ratio of 19.43 and a beta of 0.55.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06). The company had revenue of $448.94 million for the quarter, compared to analyst estimates of $441.21 million. IDACORP had a return on equity of 8.71% and a net margin of 14.18%. During the same period last year, the firm earned $1.11 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. StockNews.com raised IDACORP to a “sell” rating in a research note on Friday, April 26th. Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a research report on Monday, January 22nd. Morgan Stanley increased their price objective on IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Finally, TheStreet cut IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.60.

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.