Arrien Investments Inc. Invests $293,000 in IDACORP, Inc. (NYSE:IDA)

Arrien Investments Inc. purchased a new stake in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,668 shares of the energy company’s stock, valued at approximately $293,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after acquiring an additional 359,553 shares during the period. State Street Corp raised its stake in IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Reaves W H & Co. Inc. boosted its holdings in IDACORP by 75.4% in the 4th quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after purchasing an additional 429,276 shares during the period. Geode Capital Management LLC grew its position in shares of 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. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of IDACORP by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company’s stock worth $76,450,000 after purchasing an additional 7,286 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America upped their target price on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Morgan Stanley raised 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. Finally, Jefferies Financial Group cut their price objective on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and a consensus price target of $118.20.

IDACORP Trading Up 0.9 %

Shares of IDA opened at $116.05 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.42. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.32 and a beta of 0.59. The business’s fifty day moving average is $111.52 and its 200-day moving average is $109.41.

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

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.96%. The ex-dividend date was Wednesday, February 5th. IDACORP’s payout ratio is 62.77%.

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.