IDACORP, Inc. (NYSE:IDA) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC increased its holdings in IDACORP, Inc. (NYSE:IDA) by 20.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737 shares of the energy company’s stock after purchasing an additional 127 shares during the quarter. GAMMA Investing LLC’s holdings in IDACORP were worth $86,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of IDACORP by 1.3% during the fourth 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 raised its holdings in shares of IDACORP by 43.3% during the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock valued at $374,279,000 after acquiring an additional 1,035,133 shares during the period. T. Rowe Price Investment Management Inc. grew its position in IDACORP by 9.6% during the fourth 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. grew its position in IDACORP by 2.2% during the fourth 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, Geode Capital Management LLC grew its position in IDACORP by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 954,035 shares of the energy company’s stock valued at $104,288,000 after purchasing an additional 3,829 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Price Performance

NYSE:IDA opened at $116.30 on Tuesday. The stock has a market cap of $6.28 billion, a P/E ratio of 20.66, a PEG ratio of 2.46 and a beta of 0.56. IDACORP, Inc. has a one year low of $91.77 and a one year high of $120.84. The company has a fifty day moving average price of $115.33 and a 200 day moving average price of $113.81. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The company had revenue of $432.46 million during the quarter, compared to analysts’ expectations of $442.24 million. During the same quarter in the prior year, the company posted $0.95 EPS. Analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Monday, May 5th. IDACORP’s payout ratio is 61.10%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company boosted their target price on shares of IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Guggenheim boosted their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. Finally, UBS Group decreased their target price on shares of IDACORP from $121.00 to $120.00 and set a “neutral” rating for the company in a research report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $122.86.

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.