Quantbot Technologies LP Makes New $1.54 Million Investment in IDACORP, Inc. (NYSE:IDA)

Quantbot Technologies LP acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,977 shares of the energy company’s stock, valued at approximately $1,544,000.

A number of other large investors also recently bought and sold shares of IDA. Trust Point Inc. lifted its stake in shares of IDACORP by 1.4% during the third quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock worth $760,000 after buying an additional 101 shares during the period. Blue Trust Inc. raised its stake in IDACORP by 7.5% in the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after acquiring an additional 106 shares during the last quarter. Raymond James Trust N.A. lifted its position in IDACORP by 1.7% during the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares during the period. Pitcairn Co. increased its holdings in shares of IDACORP by 2.3% in 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 period. Finally, Fortem Financial Group LLC raised its stake in shares of IDACORP by 1.2% in the second quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock worth $866,000 after purchasing an additional 112 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.2 %

Shares of IDA stock opened at $118.54 on Friday. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $120.42. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 2.64 and a beta of 0.60. 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 50 day simple moving average of $107.92 and a 200-day simple moving average of $101.07.

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

IDACORP Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IDA. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and upped their target price for the company from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and upped their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. 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. Finally, Morgan Stanley upped their target price on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $108.83.

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.