Nisa Investment Advisors LLC Acquires 4,700 Shares of IDACORP, Inc. (NYSE:IDA)

Nisa Investment Advisors LLC lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,997 shares of the energy company’s stock after purchasing an additional 4,700 shares during the quarter. Nisa Investment Advisors LLC owned 0.20% of IDACORP worth $10,153,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Rise Advisors LLC raised its holdings in IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after buying an additional 146 shares during the period. Mather Group LLC. acquired a new position in IDACORP during the 1st quarter worth approximately $41,000. Northwest Financial Advisors acquired a new stake in shares of IDACORP in the fourth quarter valued at approximately $52,000. Kapitalo Investimentos Ltda bought a new stake in shares of IDACORP in the fourth quarter worth $54,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in IDACORP by 19.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on IDA. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their price target on shares of IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley dropped their target price on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Finally, Mizuho raised their price objective on IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $98.00.

Insider Activity at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction on Thursday, May 23rd. The stock was 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 of the company’s stock, valued at approximately $156,898.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by corporate insiders.

IDACORP Stock Performance

Shares of NYSE IDA traded up $0.80 during trading hours on Monday, reaching $102.83. 66,941 shares of the stock were exchanged, compared to its average volume of 361,939. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 20.62 and a beta of 0.58. The stock’s fifty day simple moving average is $95.55 and its 200 day simple moving average is $93.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $104.43.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million for the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a return on equity of 9.38% and a net margin of 15.04%. During the same quarter last year, the business earned $1.35 EPS. Sell-side analysts predict that IDACORP, Inc. will post 5.37 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be given a $0.83 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.23%. IDACORP’s payout ratio is 66.67%.

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.