Hartree Partners LP Makes New Investment in IDACORP, Inc. (NYSE:IDA)

Hartree Partners LP bought a new stake in shares of IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,600 shares of the energy company’s stock, valued at approximately $940,000.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in IDACORP in the third quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its position in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Versant Capital Management Inc increased its stake in shares of IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky raised its holdings in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after purchasing an additional 225 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in IDACORP during the fourth quarter worth approximately $45,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IDA. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Bank of America lifted their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. UBS Group upped their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Finally, Jefferies Financial Group lowered their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $120.50.

IDACORP Stock Performance

Shares of IDACORP stock opened at $115.08 on Friday. The business’s 50 day moving average price is $112.80 and its 200 day moving average price is $110.19. The company has a market cap of $6.21 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.32 and a beta of 0.59. 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 one year low of $88.70 and a one year high of $120.42.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping 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 business had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. On average, research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.99%. IDACORP’s dividend payout ratio (DPR) is 62.77%.

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.