By otakuyassine3@gmail.com 
Mutual of America Capital Management LLC trimmed its holdings in IDACORP, Inc. (NYSE:IDA – Free Report) by 2.2% in the fourth quarter, HoldingsChannel reports. The fund owned 28,139 shares of the energy company’s stock after selling 641 shares during the period. Mutual of America Capital Management LLC’s holdings in IDACORP were worth $3,075,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Proficio Capital Partners LLC purchased a new position in IDACORP in the 4th quarter worth $45,000. Oppenheimer Asset Management Inc. grew its stake in shares of IDACORP by 3.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 10,235 shares of the energy company’s stock valued at $1,118,000 after buying an additional 299 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of IDACORP by 58.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 9,421 shares of the energy company’s stock valued at $1,030,000 after buying an additional 3,468 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of IDACORP by 4.3% in the fourth quarter. Bank of New York Mellon Corp now owns 521,189 shares of the energy company’s stock worth $56,956,000 after buying an additional 21,435 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of IDACORP in the 4th quarter valued at about $882,000. 89.10% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IDA has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Morgan Stanley upped their price target on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Bank of America raised their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average price target of $118.20.
Read Our Latest Report on IDACORP
IDACORP Stock Performance
Shares of IDA stock opened at $112.37 on Friday. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 2.32 and a beta of 0.65. The stock has a fifty day moving average of $110.78 and a 200 day moving average of $108.75. IDACORP, Inc. has a 52 week low of $88.67 and a 52 week high of $120.42. 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 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 firm 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%. As a group, research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.
IDACORP Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.06%. IDACORP’s payout ratio is 62.77%.
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.
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