IDACORP, Inc. (NYSE:IDA) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 49.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,316 shares of the energy company’s stock after buying an additional 34,049 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.20% of IDACORP worth $10,158,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in IDACORP during the third quarter valued at $40,000. CWM LLC lifted its stake in IDACORP by 22.2% in the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock valued at $98,000 after buying an additional 180 shares in the last quarter. Signaturefd LLC boosted its holdings in IDACORP by 24.2% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock worth $110,000 after buying an additional 229 shares during the last quarter. Selway Asset Management purchased a new stake in IDACORP during the 3rd quarter worth approximately $118,000. Finally, CENTRAL TRUST Co raised its holdings in shares of IDACORP by 371.7% during the third quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock valued at $119,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA stock opened at $96.20 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. The company has a market capitalization of $4.88 billion, a PE ratio of 19.32 and a beta of 0.55. The firm’s 50-day moving average is $91.46 and its two-hundred day moving average is $93.96. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $112.64.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.73%. The firm had revenue of $448.94 million for the quarter, compared to analysts’ expectations of $441.21 million. During the same period in the previous year, the firm posted $1.11 EPS. Analysts predict that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Guggenheim cut IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, January 22nd. Morgan Stanley upped their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Wells Fargo & Company raised their price target on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday. TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Mizuho decreased their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.60.

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.