By otakuyassine3@gmail.com 
Pictet Asset Management Holding SA lessened its stake in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,531 shares of the energy company’s stock after selling 133 shares during the quarter. Pictet Asset Management Holding SA’s holdings in IDACORP were worth $495,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Reaves W H & Co. Inc. lifted its position in IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after acquiring an additional 429,276 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of IDACORP during the fourth quarter worth about $37,104,000. State Street Corp lifted its holdings in shares of IDACORP by 5.5% in the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Vanguard Group Inc. grew its stake in IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock worth $660,786,000 after buying an additional 77,230 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in IDACORP by 14.2% during the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock worth $59,509,000 after buying an additional 67,568 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on IDA. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley raised their price objective 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. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. UBS Group raised their price target on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Finally, Bank of America boosted their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $120.50.
View Our Latest Stock Analysis on IDACORP
IDACORP Price Performance
Shares of NYSE:IDA opened at $112.72 on Wednesday. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $120.84. The company has a 50-day moving average price of $113.85 and a 200 day moving average price of $110.90. The company has a market cap of $6.09 billion, a P/E ratio of 20.57, a PEG ratio of 2.32 and a beta of 0.56. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.
IDACORP (NYSE:IDA – Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 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 business had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. Research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.
IDACORP Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.05%. 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.
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