IDACORP, Inc. (NYSE:IDA) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in IDACORP, Inc. (NYSE:IDA) by 4,756.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,214 shares of the energy company’s stock after purchasing an additional 1,189 shares during the quarter. Venturi Wealth Management LLC’s holdings in IDACORP were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in IDA. Wellington Management Group LLP raised its stake in IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after purchasing an additional 359,553 shares during the last quarter. State Street Corp grew its holdings in IDACORP by 5.5% in the 3rd 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 period. Principal Financial Group Inc. grew its holdings in IDACORP by 14.2% in the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock valued at $59,509,000 after buying an additional 67,568 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in IDACORP by 3,692.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 64,655 shares of the energy company’s stock valued at $7,014,000 after buying an additional 62,950 shares during the period. Finally, Geode Capital Management LLC grew its holdings in IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after buying an additional 36,063 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on IDA. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley lifted their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and lifted their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. Finally, StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.20.

IDACORP Stock Up 1.1 %

Shares of NYSE:IDA opened at $113.98 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42. The stock has a market capitalization of $6.07 billion, a P/E ratio of 20.80, a PEG ratio of 2.32 and a beta of 0.65. The stock has a 50-day simple moving average of $109.90 and a 200-day simple moving average of $107.95.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during 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%. Equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 62.77%.

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.