Swiss National Bank Buys 5,700 Shares of IDACORP, Inc. (NYSE:IDA)

Swiss National Bank raised its stake in IDACORP, Inc. (NYSE:IDA) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,700 shares of the energy company’s stock after acquiring an additional 5,700 shares during the period. Swiss National Bank’s holdings in IDACORP were worth $11,442,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IDA. Legacy Investment Solutions LLC bought a new stake in IDACORP in the third quarter valued at $25,000. MassMutual Private Wealth & Trust FSB grew its position in IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Versant Capital Management Inc grew its position in IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after acquiring an additional 301 shares during the period. Independence Bank of Kentucky boosted its stake in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in IDACORP in the fourth quarter worth $45,000. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Morgan Stanley upped their price target on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Bank of America upped their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. One research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $120.20.

IDACORP Trading Down 0.4 %

NYSE:IDA opened at $116.24 on Friday. IDACORP, Inc. has a 1-year low of $88.70 and a 1-year high of $120.42. The business’s 50-day moving average price is $112.07 and its two-hundred day moving average price is $109.71. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share 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 firm had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. On average, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.96%. IDACORP’s dividend payout ratio (DPR) is currently 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.