Sei Investments Co. Buys 44,093 Shares of IDACORP, Inc. (NYSE:IDA)

Sei Investments Co. boosted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 59.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,461 shares of the energy company’s stock after acquiring an additional 44,093 shares during the period. Sei Investments Co. owned 0.22% of IDACORP worth $11,035,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pitcairn Co. increased its stake in IDACORP by 2.4% during the 1st quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock worth $402,000 after acquiring an additional 103 shares during the period. Raymond James Trust N.A. increased its stake in IDACORP by 1.7% during the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares during the period. Fortem Financial Group LLC increased its stake in IDACORP by 1.2% during the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock worth $866,000 after acquiring an additional 112 shares during the period. EverSource Wealth Advisors LLC increased its stake in IDACORP by 18.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company’s stock worth $77,000 after acquiring an additional 126 shares during the period. Finally, Rise Advisors LLC increased its stake in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after acquiring an additional 146 shares during the period. Institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IDA. Jefferies Financial Group began coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price on the stock. Morgan Stanley raised their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday. Bank of America began coverage on IDACORP in a report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $103.57.

IDACORP Trading Up 0.8 %

NYSE IDA opened at $103.22 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $105.24. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. The business’s fifty day moving average is $101.64 and its 200 day moving average is $96.23.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The company had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. During the same quarter last year, the business posted $1.35 EPS. As a group, sell-side analysts expect that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Monday, August 5th. IDACORP’s dividend payout ratio (DPR) is 66.67%.

About IDACORP

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.