Everhart Financial Group Inc. Has $613,000 Position in IDACORP, Inc. (NYSE:IDA)

Everhart Financial Group Inc. increased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,275 shares of the energy company’s stock after purchasing an additional 509 shares during the period. Everhart Financial Group Inc.’s holdings in IDACORP were worth $613,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. acquired a new stake in IDACORP during the 4th quarter worth approximately $248,000. Apollon Wealth Management LLC bought a new stake in shares of IDACORP during the fourth quarter worth $213,000. Empowered Funds LLC acquired a new stake in shares of IDACORP during the fourth quarter worth $210,000. Allspring Global Investments Holdings LLC lifted its position in IDACORP by 3,692.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 64,655 shares of the energy company’s stock valued at $7,014,000 after acquiring an additional 62,950 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in IDACORP by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after acquiring an additional 2,056 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on IDA shares. UBS Group dropped their price target on IDACORP from $121.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, June 2nd. Wells Fargo & Company lifted their target price on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Morgan Stanley set a $128.00 target price on IDACORP and gave the company an “equal weight” rating in a research note on Thursday, May 22nd. Wall Street Zen downgraded IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and a consensus target price of $122.86.

IDACORP Stock Performance

IDA opened at $113.85 on Friday. The business’s 50-day simple moving average is $116.13 and its 200 day simple moving average is $113.76. IDACORP, Inc. has a 52-week low of $90.64 and a 52-week high of $120.84. 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 firm has a market capitalization of $6.15 billion, a PE ratio of 20.78, a PEG ratio of 2.32 and a beta of 0.58.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. During the same quarter in the previous year, the firm earned $0.95 EPS. As a group, sell-side analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP’s dividend payout ratio (DPR) is currently 61.10%.

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.