BI Asset Management Fondsmaeglerselskab A S Takes Position in IDACORP, Inc. (NYSE:IDA)

BI Asset Management Fondsmaeglerselskab A S bought a new position in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,447 shares of the energy company’s stock, valued at approximately $158,000.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of IDACORP by 98.4% in 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 last quarter. Versant Capital Management Inc raised its holdings in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after acquiring an additional 301 shares during the period. Independence Bank of Kentucky raised its holdings in IDACORP by 123.6% in 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 position in IDACORP during the 4th quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in IDACORP during the third quarter valued at about $53,000. Institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

IDACORP Stock Up 1.0 %

IDA opened at $117.49 on Friday. IDACORP, Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $120.84. The company has a market capitalization of $6.35 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.32 and a beta of 0.56. 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 firm’s fifty day moving average price is $115.61 and its two-hundred day moving average price is $112.12.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for 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%. On average, analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.93%. IDACORP’s dividend payout ratio is presently 62.77%.

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.