Susquehanna Fundamental Investments LLC Buys Shares of 63,336 IDACORP, Inc. (NYSE:IDA)

Susquehanna Fundamental Investments LLC bought a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 63,336 shares of the energy company’s stock, valued at approximately $6,921,000. Susquehanna Fundamental Investments LLC owned 0.12% of IDACORP at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in IDA. MassMutual Private Wealth & Trust FSB grew its stake in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of 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 purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of 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 purchasing an additional 225 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of IDACORP in the 4th quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of IDACORP in the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

IDA stock opened at $116.47 on Monday. 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 stock has a market cap of $6.29 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.32 and a beta of 0.56. The firm has a 50 day simple moving average of $115.73 and a 200 day simple moving average of $112.39. IDACORP, Inc. has a 52 week low of $90.64 and a 52 week high of $120.84.

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

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Monday, May 5th. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley lifted their target price on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. UBS Group lifted their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Finally, Bank of America lifted their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.