Cambiar Investors LLC Has $2.51 Million Stake in IDACORP, Inc. (NYSE:IDA)

Cambiar Investors LLC decreased its position in IDACORP, Inc. (NYSE:IDA) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,938 shares of the energy company’s stock after selling 1,980 shares during the quarter. Cambiar Investors LLC’s holdings in IDACORP were worth $2,507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IDA. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP in the third quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in IDACORP during the third quarter worth approximately $26,000. MassMutual Private Wealth & Trust FSB grew its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after buying an additional 120 shares in the last quarter. Versant Capital Management Inc grew its position in IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after buying an additional 301 shares in the last quarter. Finally, Independence Bank of Kentucky grew its position in IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on IDA shares. Morgan Stanley increased their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group reduced their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and raised their target price for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their target price on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $116.20.

IDACORP Trading Down 0.1 %

Shares of IDA stock opened at $110.47 on Tuesday. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42. The company has a market cap of $5.88 billion, a PE ratio of 20.49, a P/E/G ratio of 2.28 and a beta of 0.65. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock’s fifty day moving average price is $110.42 and its two-hundred day moving average price is $107.28.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s payout ratio is 63.82%.

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.