Royal London Asset Management Ltd. Acquires 1,532 Shares of IDACORP, Inc. (NYSE:IDA)

Royal London Asset Management Ltd. raised its holdings in IDACORP, Inc. (NYSE:IDA) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,571 shares of the energy company’s stock after acquiring an additional 1,532 shares during the period. Royal London Asset Management Ltd. owned about 0.42% of IDACORP worth $24,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co bought a new stake in shares of IDACORP during the fourth quarter worth about $704,000. Algert Global LLC grew its holdings in shares of IDACORP by 42.5% during the third quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after purchasing an additional 10,550 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of IDACORP by 67.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after purchasing an additional 19,274 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of IDACORP by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of IDACORP during the fourth quarter worth about $913,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA opened at $114.32 on Friday. IDACORP, Inc. has a 52-week low of $88.70 and a 52-week high of $120.42. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The business’s 50 day moving average price is $112.22 and its two-hundred day moving average price is $109.80. The firm has a market cap of $6.17 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating 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. On average, equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Jefferies Financial Group reduced their target price on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley upped their target price on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, UBS Group upped their target price on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average target price of $120.50.

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.