Charles Schwab Investment Management Inc. Increases Stake in IDACORP, Inc. (NYSE:IDA)

Charles Schwab Investment Management Inc. raised its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 692,293 shares of the energy company’s stock after purchasing an additional 35,651 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in IDACORP were worth $71,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDA. Victory Capital Management Inc. boosted its holdings in IDACORP by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company’s stock worth $134,694,000 after buying an additional 23,925 shares during the period. Nuance Investments LLC lifted its holdings in IDACORP by 19.0% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in IDACORP by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock worth $64,583,000 after purchasing an additional 47,527 shares during the period. Boston Trust Walden Corp grew its holdings in IDACORP by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 576,189 shares of the energy company’s stock valued at $53,672,000 after buying an additional 7,194 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its position 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 valued at $53,667,000 after buying an additional 135,793 shares during the period. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

IDA has been the subject of a number of analyst reports. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Jefferies Financial Group began coverage on shares of IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price target for the company. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average price target of $108.83.

IDACORP Stock Up 0.7 %

IDA opened at $118.74 on Friday. The business’s fifty day simple moving average is $107.59 and its 200 day simple moving average is $100.95. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $120.42. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.33 billion, a PE ratio of 22.03, a P/E/G ratio of 2.65 and a beta of 0.60.

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

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a dividend yield of 2.90%. IDACORP’s dividend payout ratio (DPR) is 63.82%.

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.