Venturi Wealth Management LLC Grows Stock Position in IDACORP, Inc. (NYSE:IDA)

Venturi Wealth Management LLC boosted its stake in IDACORP, Inc. (NYSE:IDA) by 4,756.0% in the fourth quarter, Holdings Channel reports. The fund owned 1,214 shares of the energy company’s stock after buying an additional 1,189 shares during the quarter. Venturi Wealth Management LLC’s holdings in IDACORP were worth $133,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Diversified Trust Co acquired a new position in shares of IDACORP in the 4th quarter valued at approximately $704,000. Algert Global LLC raised its position in shares of IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock valued at $3,648,000 after purchasing an additional 10,550 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock valued at $4,918,000 after purchasing an additional 19,274 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of IDACORP in the 3rd quarter valued at approximately $3,228,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after acquiring an additional 35,651 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IDA shares. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a research report on Friday, November 1st. Jefferies Financial Group dropped their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research report on Tuesday, January 28th. Morgan Stanley upped their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $116.20.

IDACORP Trading Up 1.1 %

NYSE:IDA opened at $113.98 on Friday. IDACORP, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.32 and a beta of 0.65. The business has a fifty day moving average of $109.90 and a 200-day moving average of $107.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping 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 company had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. Equities analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be paid a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.02%. IDACORP’s payout ratio is 62.77%.

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.