Moody Aldrich Partners LLC Purchases 1,035 Shares of IDACORP, Inc. (NYSE:IDA)

Moody Aldrich Partners LLC increased its position in IDACORP, Inc. (NYSE:IDA) by 33.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,102 shares of the energy company’s stock after acquiring an additional 1,035 shares during the quarter. Moody Aldrich Partners LLC’s holdings in IDACORP were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Tributary Capital Management LLC grew its position in shares of IDACORP by 10.1% during the 1st quarter. Tributary Capital Management LLC now owns 199,137 shares of the energy company’s stock valued at $18,498,000 after acquiring an additional 18,197 shares during the period. Allspring Global Investments Holdings LLC increased its position in IDACORP by 59.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 391,388 shares of the energy company’s stock worth $36,356,000 after buying an additional 145,316 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of IDACORP by 2.5% during the 1st quarter. State of Michigan Retirement System now owns 12,420 shares of the energy company’s stock valued at $1,154,000 after buying an additional 300 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of IDACORP by 13.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,210 shares of the energy company’s stock valued at $298,000 after acquiring an additional 390 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in IDACORP by 6.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 19,127 shares of the energy company’s stock worth $1,777,000 after acquiring an additional 1,185 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.2 %

NYSE IDA opened at $104.77 on Friday. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $105.25. The company’s 50-day moving average price is $102.79 and its 200-day moving average price is $97.76. The stock has a market cap of $5.58 billion, a PE ratio of 21.04, a PEG ratio of 3.38 and a beta of 0.60. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to analyst estimates of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same quarter in the previous year, the business earned $1.35 earnings per share. Equities research analysts forecast that IDACORP, Inc. will post 5.39 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.28%. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. IDACORP’s dividend payout ratio is presently 69.08%.

Analyst Ratings Changes

Several equities analysts have weighed in on IDA shares. Wells Fargo & Company lifted their price target on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley upped their target price on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Bank of America started coverage on IDACORP in a report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 price objective for the company. One analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, IDACORP currently has a consensus rating of “Hold” and an average price target of $104.83.

IDACORP Company 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.