Vestcor Inc Purchases Shares of 3,176 IDACORP, Inc. (NYSE:IDA)

Vestcor Inc acquired a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,176 shares of the energy company’s stock, valued at approximately $347,000.

Several other institutional investors also recently modified their holdings of IDA. MassMutual Private Wealth & Trust FSB lifted its position in IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of IDACORP during the 3rd quarter worth $25,000. 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 worth $34,000 after acquiring an additional 301 shares in the last quarter. Independence Bank of Kentucky increased 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 valued at $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after purchasing an additional 117 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

NYSE:IDA opened at $116.01 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. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The firm has a market cap of $6.26 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business has a 50 day moving average price of $111.69 and a 200-day moving average price of $109.52.

IDACORP (NYSE:IDA) last announced its quarterly 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 net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $398.13 million during the quarter, compared to analysts’ expectations of $403.21 million. Equities research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were paid 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 2.97%. IDACORP’s payout ratio is presently 62.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IDA shares. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley boosted their price objective on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group reduced their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. One investment 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $118.20.

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.