IDACORP, Inc. (NYSE:IDA) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 158.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,348 shares of the energy company’s stock after purchasing an additional 24,720 shares during the period. SG Americas Securities LLC’s holdings in IDACORP were worth $4,409,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position 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 buying an additional 359,553 shares during the period. State Street Corp boosted its holdings in IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after purchasing an additional 86,642 shares during the period. Geode Capital Management LLC grew its stake in IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after purchasing an additional 36,063 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in IDACORP by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock worth $64,583,000 after purchasing an additional 47,527 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in IDACORP by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after purchasing an additional 35,651 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

Shares of NYSE:IDA opened at $109.01 on Friday. 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, Inc. has a 12 month low of $86.43 and a 12 month high of $120.42. The firm has a market capitalization of $5.81 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.21 and a beta of 0.65. The company’s fifty day moving average price is $112.23 and its 200 day moving average price is $105.93.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). The firm had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the previous year, the firm posted $2.07 earnings per share. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.16%. IDACORP’s payout ratio is 63.82%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $102.00 to $116.00 in a report on Friday, November 1st. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Morgan Stanley boosted their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Wells Fargo & Company raised their price target on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.60.

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.