IDACORP, Inc. (NYSE:IDA) Shares Purchased by Swiss National Bank

Swiss National Bank increased its stake in IDACORP, Inc. (NYSE:IDA) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,700 shares of the energy company’s stock after purchasing an additional 5,700 shares during the quarter. Swiss National Bank owned approximately 0.20% of IDACORP worth $11,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co purchased a new position in IDACORP in the 4th quarter worth about $704,000. Algert Global LLC increased its stake in IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after purchasing an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after purchasing an additional 19,274 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in IDACORP in the 4th quarter worth about $913,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IDA shares. Morgan Stanley lifted their price target on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Jefferies Financial Group reduced their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. Finally, Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $120.20.

IDACORP Stock Down 0.4 %

Shares of IDA stock opened at $116.24 on Friday. IDACORP, Inc. has a 12 month low of $88.70 and a 12 month high of $120.42. The firm has a market cap of $6.27 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The stock has a 50 day moving average of $112.07 and a 200-day moving average of $109.71. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million for the quarter, compared to analysts’ expectations of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 62.77%.

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.