Signaturefd LLC Has $167,000 Position in IDACORP, Inc. (NYSE:IDA)

Signaturefd LLC raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 31.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,531 shares of the energy company’s stock after acquiring an additional 369 shares during the period. Signaturefd LLC’s holdings in IDACORP were worth $167,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Tumwater Wealth Management LLC bought a new position in IDACORP during the 4th quarter valued at $545,000. Envestnet Portfolio Solutions Inc. lifted its stake in IDACORP by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company’s stock valued at $616,000 after acquiring an additional 132 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of IDACORP by 5.1% during the 4th quarter. Natixis Advisors LLC now owns 59,541 shares of the energy company’s stock worth $6,507,000 after purchasing an additional 2,893 shares during the period. Hilton Capital Management LLC raised its stake in shares of IDACORP by 4.9% during the 4th quarter. Hilton Capital Management LLC now owns 16,930 shares of the energy company’s stock worth $1,850,000 after purchasing an additional 788 shares during the period. Finally, Atala Financial Inc bought a new stake in shares of IDACORP during the 4th quarter worth $269,000. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Down 1.6 %

Shares of IDACORP stock 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 stock’s 50-day simple moving average is $112.22 and its 200 day simple moving average is $109.85. The stock has a market capitalization of $6.17 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Wednesday, February 5th. IDACORP’s payout ratio is presently 62.77%.

Wall Street Analysts Forecast Growth

IDA has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America lifted their target price on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. UBS Group lifted their target price on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Jefferies Financial Group lowered their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, IDACORP has an average rating of “Hold” and an average target price of $120.50.

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.