IDACORP, Inc. $IDA is Reaves W H & Co. Inc.’s 6th Largest Position

Reaves W H & Co. Inc. grew its holdings in IDACORP, Inc. (NYSE:IDA) by 8.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,700,680 shares of the energy company’s stock after acquiring an additional 133,836 shares during the quarter. IDACORP comprises 4.0% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 6th biggest holding. Reaves W H & Co. Inc. owned about 3.15% of IDACORP worth $224,745,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IDA. Parkside Financial Bank & Trust raised its holdings in IDACORP by 33.6% during the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock worth $44,000 after purchasing an additional 96 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of IDACORP by 31.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock valued at $53,000 after buying an additional 97 shares during the last quarter. Securian Asset Management Inc. raised its stake in IDACORP by 2.5% during the 2nd quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock worth $476,000 after acquiring an additional 100 shares in the last quarter. D.A. Davidson & CO. lifted its position in IDACORP by 2.2% in the third quarter. D.A. Davidson & CO. now owns 5,106 shares of the energy company’s stock valued at $675,000 after acquiring an additional 111 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in IDACORP by 4.9% in the second quarter. Evergreen Capital Management LLC now owns 2,541 shares of the energy company’s stock valued at $293,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

NYSE IDA opened at $135.30 on Tuesday. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.63 and a beta of 0.59. The business’s 50 day moving average is $129.46 and its two-hundred day moving average is $128.91. IDACORP, Inc. has a 12-month low of $108.15 and a 12-month high of $138.03. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95.

IDACORP Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IDA. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. UBS Group reduced their price objective on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Morgan Stanley lowered their target price on shares of IDACORP from $146.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Mizuho upped their price target on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Wells Fargo & Company downgraded shares of IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $129.00 to $118.00 in a research report on Tuesday, January 20th. Eight equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.67.

IDACORP 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.