Ancora Advisors LLC Makes New $765,000 Investment in IDACORP, Inc. (NYSE:IDA)

Ancora Advisors LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,000 shares of the energy company’s stock, valued at approximately $765,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC lifted its stake in IDACORP by 90.9% in the 3rd quarter. Barclays PLC now owns 27,184 shares of the energy company’s stock valued at $2,803,000 after acquiring an additional 12,944 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of IDACORP in the third quarter worth $53,000. Tidal Investments LLC boosted its holdings in IDACORP by 40.3% during the third quarter. Tidal Investments LLC now owns 15,341 shares of the energy company’s stock worth $1,582,000 after purchasing an additional 4,409 shares during the last quarter. JPMorgan Chase & Co. grew its position in IDACORP by 7.0% in the third quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock valued at $35,401,000 after purchasing an additional 22,485 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after buying an additional 301 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Trading Down 0.9 %

IDA stock opened at $116.49 on Tuesday. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The company has a fifty day moving average price of $116.11 and a two-hundred day moving average price of $112.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a yield of 2.95%. IDACORP’s payout ratio is currently 62.77%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America increased their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Guggenheim raised their price target on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley upped their price objective on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. UBS Group raised 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. Finally, StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.57.

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.