IDACORP, Inc. (NYSE:IDA) Shares Bought by Boothbay Fund Management LLC

Boothbay Fund Management LLC grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 67.9% during the fourth quarter, HoldingsChannel reports. The firm owned 8,173 shares of the energy company’s stock after purchasing an additional 3,305 shares during the quarter. Boothbay Fund Management LLC’s holdings in IDACORP were worth $893,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IDA. MassMutual Private Wealth & Trust FSB lifted its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc increased its stake in shares of IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of IDACORP by 123.6% during the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of IDACORP in the fourth quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of IDACORP in the third quarter worth approximately $53,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IDA. UBS Group increased their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley lifted their target price on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Jefferies Financial Group upgraded IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Finally, StockNews.com upgraded IDACORP from a “sell” rating to a “hold” rating in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.50.

IDACORP Stock Performance

Shares of IDA opened at $117.65 on Wednesday. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The stock’s 50-day moving average is $115.94 and its two-hundred day moving average is $112.54. 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 stock has a market cap of $6.36 billion, a PE ratio of 21.47, a P/E/G ratio of 2.32 and a beta of 0.56.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. Equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.92%. IDACORP’s payout ratio is currently 62.77%.

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.