ING Groep NV Purchases New Shares in IDACORP, Inc. (NYSE:IDA)

ING Groep NV acquired a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 28,800 shares of the energy company’s stock, valued at approximately $3,147,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Diversified Trust Co acquired a new position in shares of IDACORP during the 4th quarter worth $704,000. Algert Global LLC grew its position in IDACORP by 42.5% during the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after acquiring an additional 10,550 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in IDACORP by 67.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after acquiring an additional 19,274 shares during the last quarter. GSA Capital Partners LLP bought a new stake in IDACORP during the 3rd quarter worth $3,228,000. Finally, Charles Schwab Investment Management Inc. grew its position in IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after acquiring an additional 35,651 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Up 1.1 %

Shares of IDACORP stock opened at $113.98 on Friday. IDACORP, Inc. has a one year low of $86.47 and a one year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The stock’s 50-day moving average is $109.90 and its 200 day moving average is $107.95. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.32 and a beta of 0.65.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is currently 62.77%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a research report on Friday, November 1st. 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. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average price target of $116.20.

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.