IDACORP, Inc. (NYSE:IDA) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,519 shares of the energy company’s stock after purchasing an additional 315 shares during the period. Townsquare Capital LLC’s holdings in IDACORP were worth $385,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in IDACORP by 63.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,157 shares of the energy company’s stock valued at $345,000 after buying an additional 1,229 shares in the last quarter. Covestor Ltd raised its stake in IDACORP by 20.8% during the fourth quarter. Covestor Ltd now owns 965 shares of the energy company’s stock worth $106,000 after purchasing an additional 166 shares during the period. Treasurer of the State of North Carolina boosted its holdings in IDACORP by 5.7% in the 4th quarter. Treasurer of the State of North Carolina now owns 23,357 shares of the energy company’s stock valued at $2,552,000 after purchasing an additional 1,260 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of IDACORP in the 4th quarter valued at approximately $37,104,000. Finally, Texas Yale Capital Corp. raised its position in shares of IDACORP by 0.5% during the 4th quarter. Texas Yale Capital Corp. now owns 32,885 shares of the energy company’s stock valued at $3,594,000 after buying an additional 150 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Up 1.0 %

Shares of NYSE IDA opened at $119.18 on Monday. IDACORP, Inc. has a 12-month low of $90.64 and a 12-month high of $120.84. The stock has a market cap of $6.44 billion, a P/E ratio of 21.75, a PEG ratio of 2.32 and a beta of 0.56. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $115.09 and its 200-day simple moving average is $111.83.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The business had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. As a group, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.89%. IDACORP’s dividend payout ratio is presently 62.77%.

Wall Street Analyst Weigh In

IDA has been the subject of several recent analyst reports. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Finally, UBS Group raised their price target on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.50.

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.