Nisa Investment Advisors LLC Purchases 1,000 Shares of IDACORP, Inc. (NYSE:IDA)

Nisa Investment Advisors LLC grew its position in IDACORP, Inc. (NYSE:IDA) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,297 shares of the energy company’s stock after acquiring an additional 1,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in IDACORP were worth $10,960,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. M&T Bank Corp raised its stake in shares of IDACORP by 0.8% in the third quarter. M&T Bank Corp now owns 10,992 shares of the energy company’s stock valued at $1,133,000 after purchasing an additional 92 shares in the last quarter. Trust Point Inc. boosted its position in shares of IDACORP by 1.4% during the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after acquiring an additional 101 shares in the last quarter. Blue Trust Inc. raised its position in IDACORP by 7.5% in the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock worth $157,000 after purchasing an additional 106 shares in the last quarter. Pitcairn Co. raised its position in IDACORP by 2.3% in the third quarter. Pitcairn Co. now owns 4,801 shares of the energy company’s stock worth $495,000 after purchasing an additional 107 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Up 0.9 %

Shares of NYSE IDA opened at $108.65 on Friday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The firm’s 50-day simple moving average is $112.39 and its 200 day simple moving average is $105.82. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The company had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same period in the prior year, the firm posted $2.07 earnings per share. On average, research analysts expect that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.17%. IDACORP’s payout ratio is 63.82%.

Wall Street Analysts Forecast Growth

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

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.