Guggenheim Capital LLC Boosts Stake in IDACORP, Inc. (NYSE:IDA)

Guggenheim Capital LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,665 shares of the energy company’s stock after buying an additional 3,459 shares during the period. Guggenheim Capital LLC’s holdings in IDACORP were worth $2,149,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the last quarter. Versant Capital Management Inc boosted its holdings in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky grew its position in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after purchasing an additional 225 shares during the period. Proficio Capital Partners LLC purchased a new stake in IDACORP during the 4th quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of IDACORP during the 3rd quarter valued at $53,000. 89.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IDA has been the subject of a number of research reports. Bank of America upped their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Finally, UBS Group boosted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $120.50.

IDACORP Stock Up 1.0 %

Shares of IDA stock opened at $119.18 on Friday. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company’s fifty day moving average price is $115.09 and its 200-day moving average price is $111.76. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84.

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

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. IDACORP’s dividend payout ratio (DPR) 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.