IDACORP, Inc. $IDA Holdings Boosted by Alps Advisors Inc.

Alps Advisors Inc. raised its stake in IDACORP, Inc. (NYSE:IDA) by 31.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,178 shares of the energy company’s stock after acquiring an additional 7,036 shares during the period. Alps Advisors Inc. owned 0.05% of IDACORP worth $3,856,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Parkside Financial Bank & Trust grew its stake in IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock worth $44,000 after buying an additional 96 shares during the last quarter. Securian Asset Management Inc. boosted its holdings in shares of IDACORP by 2.5% during the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock valued at $476,000 after acquiring an additional 100 shares during the period. D.A. Davidson & CO. grew its position in shares of IDACORP by 2.2% during the third quarter. D.A. Davidson & CO. now owns 5,106 shares of the energy company’s stock worth $675,000 after acquiring an additional 111 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after acquiring an additional 119 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in IDACORP by 4.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,541 shares of the energy company’s stock valued at $293,000 after purchasing an additional 119 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on IDA shares. Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $118.00 in a research report on Tuesday, January 20th. Wall Street Zen cut IDACORP from a “hold” rating to a “sell” rating in a research report on Monday, January 26th. UBS Group reduced their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Mizuho increased their price target on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Jefferies Financial Group cut their price objective on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $137.67.

IDACORP Trading Down 0.0%

Shares of IDACORP stock opened at $135.30 on Tuesday. The business has a fifty day simple moving average of $129.46 and a 200-day simple moving average of $128.91. IDACORP, Inc. has a fifty-two week low of $108.15 and a fifty-two week high of $138.03. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be given a $0.88 dividend. The ex-dividend date is Thursday, February 5th. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP’s payout ratio is 60.48%.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.