IDACORP, Inc. (NYSE:IDA) Shares Purchased by Hilton Capital Management LLC

Hilton Capital Management LLC grew its position in IDACORP, Inc. (NYSE:IDA) by 15.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 16,142 shares of the energy company’s stock after acquiring an additional 2,220 shares during the quarter. Hilton Capital Management LLC’s holdings in IDACORP were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of IDA. Clean Energy Transition LLP acquired a new stake in shares of IDACORP in the second quarter valued at approximately $49,103,000. Nuance Investments LLC lifted its holdings in shares of IDACORP by 19.0% during the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock worth $103,813,000 after purchasing an additional 178,294 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of IDACORP by 30.8% during the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock worth $53,667,000 after purchasing an additional 135,793 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of IDACORP during the second quarter worth $8,032,000. Finally, F M Investments LLC acquired a new stake in shares of IDACORP during the second quarter worth $5,236,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Trading Down 0.7 %

Shares of IDA stock opened at $117.77 on Wednesday. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $119.65. The stock has a market cap of $6.27 billion, a P/E ratio of 21.85, a P/E/G ratio of 2.61 and a beta of 0.60. The business has a fifty day simple moving average of $105.79 and a 200-day simple moving average of $100.07. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The firm had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter in the prior year, the business earned $2.07 EPS. On average, analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.92%. This is a boost from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio (DPR) is currently 63.82%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and a consensus target price of $108.83.

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.