Tributary Capital Management LLC Increases Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Tributary Capital Management LLC raised its stake in IDACORP, Inc. (NYSE:IDA) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 201,795 shares of the energy company’s stock after purchasing an additional 3,608 shares during the quarter. IDACORP accounts for 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Tributary Capital Management LLC owned about 0.38% of IDACORP worth $22,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of IDACORP in the 3rd quarter valued at approximately $25,000. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP in the 3rd quarter valued at approximately $26,000. MassMutual Private Wealth & Trust FSB lifted its holdings 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 valued at $26,000 after buying an additional 120 shares during the period. Versant Capital Management Inc lifted its holdings 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 valued at $34,000 after buying an additional 301 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in shares of IDACORP by 35.9% in the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after buying an additional 117 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Price Performance

Shares of NYSE:IDA opened at $109.01 on Friday. The company has a market cap of $5.81 billion, a P/E ratio of 20.22, a P/E/G ratio of 2.21 and a beta of 0.65. 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, Inc. has a 52 week low of $86.43 and a 52 week high of $120.42. The business has a fifty day simple moving average of $112.23 and a 200-day simple moving average of $105.93.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. During the same period in the prior year, the firm earned $2.07 EPS. Equities research analysts forecast that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Analysts Set New Price Targets

IDA has been the subject of several research reports. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley raised their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and a consensus target price of $114.60.

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.