BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Position in IDACORP, Inc. (NYSE:IDA)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of IDACORP, Inc. (NYSE:IDA) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,157 shares of the energy company’s stock after purchasing an additional 3,932 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.32% of IDACORP worth $15,943,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IDA. Rise Advisors LLC boosted its stake 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 purchasing an additional 146 shares during the period. Mather Group LLC. purchased a new position in IDACORP in the 1st quarter valued at $41,000. Northwest Financial Advisors purchased a new position in IDACORP in the 4th quarter valued at $52,000. Kapitalo Investimentos Ltda acquired a new position in IDACORP in the 4th quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC raised its position in IDACORP by 19.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after buying an additional 112 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Mizuho lifted their price target on IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Morgan Stanley upped their target price on IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $99.80.

IDACORP Trading Up 0.3 %

IDA stock traded up $0.30 during trading on Friday, reaching $101.91. 277,009 shares of the stock traded hands, compared to its average volume of 357,352. The firm has a market capitalization of $5.43 billion, a PE ratio of 20.46 and a beta of 0.58. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $104.43. 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 business’s 50 day moving average price is $97.60 and its 200-day moving average price is $94.22.

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

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 5th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $3.32 annualized dividend and a dividend yield of 3.26%. IDACORP’s payout ratio is currently 66.67%.

IDACORP Company 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.