CENTRAL TRUST Co Increases Position in IDACORP, Inc. (NYSE:IDA)

CENTRAL TRUST Co grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 63.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,362 shares of the energy company’s stock after buying an additional 530 shares during the quarter. CENTRAL TRUST Co’s holdings in IDACORP were worth $158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IDA. Van ECK Associates Corp grew its position in IDACORP by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after acquiring an additional 2,056 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of IDACORP during the fourth quarter worth $362,000. Empowered Funds LLC purchased a new stake in shares of IDACORP during the fourth quarter valued at $210,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of IDACORP by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company’s stock worth $616,000 after purchasing an additional 132 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of IDACORP by 18.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,127 shares of the energy company’s stock worth $670,000 after purchasing an additional 971 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of NYSE:IDA opened at $113.46 on Friday. The firm has a 50 day moving average of $116.01 and a 200 day moving average of $113.62. The company has a quick ratio of 1.44, a current ratio of 1.81 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.41 and a beta of 0.58. IDACORP, Inc. has a 52 week low of $90.67 and a 52 week high of $120.84.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. The business had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. During the same period last year, the business posted $0.95 EPS. On average, sell-side analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP’s dividend payout ratio is currently 61.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Guggenheim boosted their price target on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Bank of America lifted 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. Finally, Wall Street Zen cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.86.

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.