Sei Investments Co. boosted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,188 shares of the energy company’s stock after purchasing an additional 907 shares during the period. Sei Investments Co.’s holdings in IDACORP were worth $1,005,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Cohen & Steers Inc. bought a new position in IDACORP during the first quarter valued at approximately $25,000. AGF Investments LLC bought a new position in IDACORP during the first quarter valued at approximately $34,000. Ameritas Investment Company LLC bought a new position in IDACORP during the first quarter valued at approximately $34,000. Bbva USA bought a new position in IDACORP during the second quarter valued at approximately $38,000. Finally, Berman Capital Advisors LLC lifted its position in IDACORP by 287.4% during the first quarter. Berman Capital Advisors LLC now owns 461 shares of the energy company’s stock valued at $45,000 after purchasing an additional 342 shares during the period. Institutional investors own 79.48% of the company’s stock.
Shares of IDA stock opened at $102.98 on Wednesday. IDACORP, Inc. has a 12 month low of $78.91 and a 12 month high of $110.21. The stock has a market cap of $5.20 billion, a P/E ratio of 20.47, a P/E/G ratio of 5.60 and a beta of 0.51. The company has a current ratio of 2.03, a quick ratio of 1.71 and a debt-to-equity ratio of 0.77. The company has a 50 day simple moving average of $105.58 and a two-hundred day simple moving average of $101.76.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Thursday, August 5th were paid a $0.71 dividend. The ex-dividend date was Wednesday, August 4th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.76%. IDACORP’s dividend payout ratio (DPR) is presently 60.55%.
A number of research analysts recently weighed in on IDA shares. Wells Fargo & Company increased their price objective on shares of IDACORP from $104.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, July 30th. Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $109.00 target price for the company in a report on Monday, July 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $107.67.
IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. The firm owns and operates hydroelectric plants on the Snake River and its tributaries. It operates through the following segments: Utilities Operations and Other. The Utilities Operations segment focuses in the production of electricity.
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