Commonwealth Equity Services LLC Purchases 1,185 Shares of IDACORP, Inc. (NYSE:IDA)

Commonwealth Equity Services LLC grew its position in shares of IDACORP, Inc. (NYSE:IDAFree Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,127 shares of the energy company’s stock after buying an additional 1,185 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IDACORP were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of IDA. EverSource Wealth Advisors LLC raised its holdings in IDACORP by 19.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after purchasing an additional 112 shares during the period. Blue Trust Inc. raised its holdings in IDACORP by 13.5% in the 4th quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock worth $129,000 after purchasing an additional 164 shares during the period. Quadrant Capital Group LLC raised its holdings in IDACORP by 12.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,529 shares of the energy company’s stock worth $150,000 after purchasing an additional 164 shares during the period. CWM LLC raised its holdings in IDACORP by 22.2% in the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after purchasing an additional 180 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in IDACORP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 22,393 shares of the energy company’s stock worth $2,202,000 after purchasing an additional 220 shares during the period. 89.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on IDACORP from $98.00 to $93.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. StockNews.com raised IDACORP to a “sell” rating in a report on Friday, April 26th. Mizuho raised their price target on IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Finally, Wells Fargo & Company raised their price target on IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $96.40.

Get Our Latest Stock Report on IDA

Insider Activity

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the transaction, the vice president now owns 1,650 shares in the company, valued at $156,898.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.

IDACORP Trading Down 0.1 %

Shares of IDACORP stock opened at $92.22 on Friday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 18.52 and a beta of 0.58. The business has a 50-day moving average price of $94.31 and a 200-day moving average price of $93.08. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $106.33.

IDACORP (NYSE:IDAGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). The firm had revenue of $448.94 million for the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a net margin of 14.18% and a return on equity of 8.71%. During the same quarter in the previous year, the business earned $1.11 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 5.36 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Monday, May 6th were given a dividend of $0.83 per share. The ex-dividend date was Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.60%. IDACORP’s payout ratio is 66.67%.

About IDACORP

(Free Report)

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.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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