Buckley Wealth Management LLC Purchases 28,125 Shares of IDACORP, Inc. (NYSE:IDA)

Buckley Wealth Management LLC grew its position in IDACORP, Inc. (NYSE:IDA) by 273.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,425 shares of the energy company’s stock after acquiring an additional 28,125 shares during the period. IDACORP accounts for approximately 1.1% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position. Buckley Wealth Management LLC owned 0.08% of IDACORP worth $3,569,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mather Group LLC. bought a new position in shares of IDACORP in the 1st quarter valued at $41,000. Northwest Financial Advisors acquired a new stake in IDACORP in the fourth quarter valued at $52,000. Kapitalo Investimentos Ltda acquired a new stake in IDACORP in the fourth quarter valued at $54,000. EverSource Wealth Advisors LLC increased its holdings in IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after purchasing an additional 112 shares during the period. Finally, CWM LLC increased its holdings in IDACORP by 22.2% in the fourth quarter. CWM LLC now owns 992 shares of the energy company’s stock valued at $98,000 after purchasing an additional 180 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on IDA shares. Morgan Stanley decreased their price objective on IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a report on Monday. Wells Fargo & Company increased their price objective on IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Mizuho increased their price target on IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. Finally, StockNews.com upgraded IDACORP to a “sell” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $96.40.

IDACORP Stock Up 0.5 %

Shares of IDA traded up $0.42 during trading hours on Friday, hitting $93.10. The stock had a trading volume of 92,450 shares, compared to its average volume of 373,547. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.54 and a quick ratio of 1.19. The firm has a 50 day simple moving average of $94.54 and a 200-day simple moving average of $93.35. The firm has a market capitalization of $4.96 billion, a P/E ratio of 18.62 and a beta of 0.57. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $106.33.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The firm had revenue of $448.94 million during the quarter, compared to analyst estimates of $441.21 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. Sell-side analysts predict that IDACORP, Inc. will post 5.36 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.57%. IDACORP’s payout ratio is 66.67%.

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the transaction, the vice president now directly owns 1,650 shares in the company, valued at approximately $156,898.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.47% of the stock is owned by insiders.

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.