AGP Franklin LLC Takes Position in IDACORP, Inc. (NYSE:IDA)

AGP Franklin LLC acquired a new position in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,090 shares of the energy company’s stock, valued at approximately $338,000.

A number of other large investors have also modified their holdings of the company. Diversified Trust Co bought a new position in IDACORP in the 4th quarter worth about $704,000. Assenagon Asset Management S.A. acquired a new position in shares of IDACORP during the fourth quarter worth approximately $913,000. JPMorgan Chase & Co. increased its position in IDACORP by 7.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock valued at $35,401,000 after acquiring an additional 22,485 shares during the period. Apollon Wealth Management LLC bought a new stake in IDACORP during the 4th quarter valued at $213,000. Finally, Van ECK Associates Corp boosted its position in IDACORP by 14.2% during the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock worth $1,809,000 after acquiring an additional 2,056 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Bank of America boosted their target price on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Morgan Stanley increased 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, March 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $120.50.

IDACORP Trading Up 1.6 %

Shares of NYSE:IDA opened at $119.28 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 2.32 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $88.70 and a 1-year high of $120.84. The company has a 50 day moving average price of $114.45 and a 200 day moving average price of $111.37.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. On average, research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued 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 2.88%. IDACORP’s payout ratio is presently 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.