Cetera Investment Advisers Has $1.17 Million Position in IDACORP, Inc. (NYSE:IDA)

Cetera Investment Advisers boosted its position in IDACORP, Inc. (NYSE:IDA) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,066 shares of the energy company’s stock after purchasing an additional 1,359 shares during the period. Cetera Investment Advisers’ holdings in IDACORP were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. increased its holdings in IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock worth $208,692,000 after purchasing an additional 166,864 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in IDACORP by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 713,023 shares of the energy company’s stock worth $77,920,000 after purchasing an additional 8,819 shares in the last quarter. Jennison Associates LLC acquired a new position in IDACORP in the 1st quarter worth about $71,437,000. Northern Trust Corp increased its stake in shares of IDACORP by 16.5% in the fourth quarter. Northern Trust Corp now owns 454,357 shares of the energy company’s stock valued at $49,652,000 after buying an additional 64,447 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of IDACORP by 596.7% in the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company’s stock valued at $41,451,000 after buying an additional 324,866 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Down 0.1%

Shares of IDACORP stock opened at $124.42 on Tuesday. IDACORP, Inc. has a one year low of $99.81 and a one year high of $126.70. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The stock’s 50-day moving average is $118.29 and its 200 day moving average is $116.01. The firm has a market cap of $6.72 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.63 and a beta of 0.56.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting the consensus estimate of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%. The company had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. During the same quarter in the prior year, the company earned $1.71 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.86 per share. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.8%. IDACORP’s payout ratio is currently 60.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IDA shares. Guggenheim increased their price target on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Morgan Stanley set a $128.00 price target on IDACORP and gave the company an “equal weight” rating in a research note on Thursday, May 22nd. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Wells Fargo & Company increased their price target on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.86.

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.