Geode Capital Management LLC Has $104.29 Million Stake in IDACORP, Inc. (NYSE:IDA)

Geode Capital Management LLC boosted its position in shares of IDACORP, Inc. (NYSE:IDA) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 954,035 shares of the energy company’s stock after acquiring an additional 3,829 shares during the period. Geode Capital Management LLC owned 1.79% of IDACORP worth $104,288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC raised its position in shares of IDACORP by 63.2% during the third quarter. Verition Fund Management LLC now owns 5,030 shares of the energy company’s stock valued at $519,000 after buying an additional 1,947 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of IDACORP during the third quarter valued at about $1,486,000. Quantinno Capital Management LP raised its position in shares of IDACORP by 30.8% during the third quarter. Quantinno Capital Management LP now owns 12,555 shares of the energy company’s stock valued at $1,294,000 after buying an additional 2,956 shares during the last quarter. State Street Corp raised its position in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after buying an additional 86,642 shares during the last quarter. Finally, Barclays PLC raised its position in shares of IDACORP by 90.9% during the third quarter. Barclays PLC now owns 27,184 shares of the energy company’s stock valued at $2,803,000 after buying an additional 12,944 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA stock opened at $115.23 on Thursday. IDACORP, Inc. has a 1 year low of $88.70 and a 1 year high of $120.84. The firm’s 50 day moving average is $114.06 and its 200-day moving average is $111.01. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.32 and a beta of 0.56. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93.

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

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 2.99%. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. UBS Group upped their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Morgan Stanley upped their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $120.50.

About IDACORP

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.