BI Asset Management Fondsmaeglerselskab A S Invests $2.47 Million in IDACORP, Inc. $IDA

BI Asset Management Fondsmaeglerselskab A S bought a new stake in IDACORP, Inc. (NYSE:IDA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,684 shares of the energy company’s stock, valued at approximately $2,469,000.

Several other institutional investors have also bought and sold shares of IDA. Jennison Associates LLC boosted its holdings in shares of IDACORP by 115.3% in the second quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock valued at $152,816,000 after acquiring an additional 708,989 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of IDACORP by 3,215.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after purchasing an additional 586,221 shares during the period. Soros Fund Management LLC bought a new stake in shares of IDACORP in the 2nd quarter worth $46,919,000. BROOKFIELD Corp ON acquired a new stake in shares of IDACORP in the second quarter valued at $33,920,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in IDACORP during the second quarter worth about $29,728,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Up 0.1%

Shares of NYSE IDA opened at $135.48 on Friday. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.63 and a beta of 0.59. The business has a 50 day simple moving average of $129.36 and a 200 day simple moving average of $128.78. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09. IDACORP, Inc. has a 52 week low of $108.15 and a 52 week high of $138.03.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Thursday, February 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

Analyst Ratings Changes

IDA has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Monday, January 26th. Mizuho lifted their price target on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. BTIG Research reaffirmed a “buy” rating and issued a $156.00 price objective on shares of IDACORP in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company lowered IDACORP from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and a consensus price target of $137.67.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.