IDACORP, Inc. (NYSE:IDA) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 18.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,127 shares of the energy company’s stock after acquiring an additional 971 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in IDACORP were worth $670,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock valued at $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP increased its holdings in shares of IDACORP by 43.3% during the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock valued at $374,279,000 after purchasing an additional 1,035,133 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of IDACORP by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock valued at $208,692,000 after purchasing an additional 166,864 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of IDACORP by 2.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company’s stock valued at $150,742,000 after purchasing an additional 29,094 shares in the last quarter. Finally, Reaves W H & Co. Inc. increased its holdings in shares of IDACORP by 75.4% during the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after purchasing an additional 429,276 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on IDA. Guggenheim lifted their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Wall Street Zen lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. UBS Group cut their target price on shares of IDACORP from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Monday, June 2nd. Finally, Bank of America boosted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $122.86.

IDACORP Price Performance

Shares of NYSE IDA opened at $115.06 on Wednesday. The firm has a market cap of $6.22 billion, a PE ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.58. The firm has a fifty day moving average of $116.05 and a 200 day moving average of $113.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The company had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. During the same quarter in the previous year, the firm earned $0.95 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Monday, May 5th. IDACORP’s payout ratio is 61.10%.

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.