IDACORP, Inc. (NYSE:IDA) Stock Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 950,206 shares of the energy company’s stock after purchasing an additional 36,063 shares during the period. Geode Capital Management LLC’s holdings in IDACORP were worth $97,981,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of IDA. M&T Bank Corp lifted its holdings in IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock worth $1,133,000 after buying an additional 92 shares during the last quarter. Trust Point Inc. raised its position in shares of IDACORP by 1.4% during the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. lifted its stake in IDACORP by 7.5% during the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after purchasing an additional 106 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in IDACORP by 1.7% in the second quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after purchasing an additional 107 shares during the period. Finally, Pitcairn Co. increased its stake in IDACORP by 2.3% during the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock valued at $495,000 after purchasing an additional 107 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of IDA stock opened at $108.79 on Thursday. The business has a 50 day simple moving average of $111.27 and a 200 day simple moving average of $102.85. 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 firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS 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 business had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. During the same period last year, the business posted $2.07 earnings per share. On average, equities research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date was Tuesday, November 5th. IDACORP’s payout ratio is 63.82%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDA. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Morgan Stanley upped their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Wells Fargo & Company raised their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $111.00.

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.