F M Investments LLC Takes $5.24 Million Position in IDACORP, Inc. (NYSE:IDA)

F M Investments LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 56,212 shares of the energy company’s stock, valued at approximately $5,236,000. F M Investments LLC owned approximately 0.11% of IDACORP as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC lifted its position in shares of IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock worth $34,000 after acquiring an additional 146 shares during the period. Mather Group LLC. bought a new position in IDACORP in the first quarter worth $41,000. Northwest Financial Advisors bought a new position in IDACORP in the fourth quarter worth $52,000. Kapitalo Investimentos Ltda acquired a new stake in IDACORP during the fourth quarter worth $54,000. Finally, EverSource Wealth Advisors LLC increased its holdings in IDACORP by 19.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after buying an additional 112 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on IDA shares. Morgan Stanley raised their price objective on shares of IDACORP from $94.00 to $102.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Mizuho raised their price target on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Wells Fargo & Company upped their price objective on IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, IDACORP presently has a consensus rating of “Hold” and an average target price of $99.80.

IDACORP Price Performance

IDA stock traded up $0.30 during trading on Friday, hitting $101.91. 277,009 shares of the stock traded hands, compared to its average volume of 357,352. The company has a current ratio of 1.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.95. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 20.27 and a beta of 0.58. IDACORP, Inc. has a one year low of $86.43 and a one year high of $104.43. The company has a 50 day simple moving average of $97.41 and a 200 day simple moving average of $94.13.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The company had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.38%. During the same quarter in the previous year, the company posted $1.35 earnings per share. Equities analysts expect that IDACORP, Inc. will post 5.37 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Monday, August 5th. IDACORP’s dividend payout ratio is currently 66.67%.

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.