339,536 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake 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 firm acquired 339,536 shares of the energy company’s stock, valued at approximately $37,104,000. Raymond James Financial Inc. owned 0.64% of IDACORP at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its position in IDACORP by 98.4% during the 4th 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 increased its stake in shares of IDACORP by 2,150.0% during the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of IDACORP in the 4th quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of IDACORP in the 3rd quarter worth approximately $53,000. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on IDA shares. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley lifted their price target on IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. UBS Group raised 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. Jefferies Financial Group raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. Finally, Bank of America raised their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $120.50.

IDACORP Stock Up 0.2 %

IDA opened at $119.51 on Wednesday. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.32 and a beta of 0.56. The firm has a 50 day moving average price of $114.62 and a 200-day moving average price of $111.43. IDACORP, Inc. has a twelve month low of $88.70 and a twelve month high of $120.84. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 15.83% and a return on equity of 9.23%. Equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Wednesday, February 5th. IDACORP’s dividend payout ratio is 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.