Tiedemann Advisors LLC Has $1.63 Million Stake in IDACORP Inc (IDA)
Tiedemann Advisors LLC grew its stake in shares of IDACORP Inc (NYSE:IDA) by 7.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,620 shares of the coal producer’s stock after acquiring an additional 1,220 shares during the period. Tiedemann Advisors LLC’s holdings in IDACORP were worth $1,625,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. People s United Financial Inc. purchased a new position in IDACORP in the second quarter worth about $2,767,000. IFP Advisors Inc boosted its position in IDACORP by 154.9% in the first quarter. IFP Advisors Inc now owns 1,881 shares of the coal producer’s stock worth $166,000 after purchasing an additional 1,143 shares during the last quarter. HL Financial Services LLC purchased a new position in IDACORP in the second quarter worth about $203,000. Ferguson Wellman Capital Management Inc. purchased a new position in IDACORP in the second quarter worth about $203,000. Finally, First Citizens Bank & Trust Co. purchased a new position in IDACORP in the second quarter worth about $221,000. Hedge funds and other institutional investors own 77.68% of the company’s stock.
NYSE IDA opened at $101.10 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 2.27. IDACORP Inc has a 52 week low of $79.59 and a 52 week high of $101.49. The stock has a market capitalization of $5.04 billion, a PE ratio of 24.01, a P/E/G ratio of 8.42 and a beta of 0.27.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 30th. Stockholders of record on Monday, August 6th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, August 3rd. IDACORP’s dividend payout ratio (DPR) is currently 56.06%.
Several research analysts have issued reports on IDA shares. Wells Fargo & Co raised their target price on IDACORP from $95.00 to $96.00 and gave the stock a “market perform” rating in a research report on Monday. Zacks Investment Research cut IDACORP from a “hold” rating to a “sell” rating in a research report on Monday, July 23rd. ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Williams Capital cut IDACORP from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research report on Monday, June 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $92.00.
IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
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