Captrust Financial Advisors Acquires 544 Shares of IDACORP, Inc. (NYSE:IDA)

Captrust Financial Advisors raised its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,432 shares of the energy company’s stock after purchasing an additional 544 shares during the period. Captrust Financial Advisors’ holdings in IDACORP were worth $812,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in IDA. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 acquiring an additional 120 shares in the last quarter. Independence Bank of Kentucky increased its position 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 acquiring an additional 225 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of IDACORP during the fourth quarter valued at approximately $45,000. Jones Financial Companies Lllp boosted its holdings in IDACORP by 1,333.3% in the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company’s stock worth $56,000 after purchasing an additional 480 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in IDACORP in the fourth quarter worth approximately $58,000. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IDA shares. Bank of America raised their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. UBS Group raised their target price on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price target on shares of IDACORP from $126.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, IDACORP has a consensus rating of “Hold” and an average price target of $123.57.

IDACORP Stock Up 1.0%

Shares of IDA stock opened at $115.45 on Friday. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84. The company’s fifty day moving average price is $115.86 and its 200-day moving average price is $113.47. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. The firm had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. During the same period last year, the firm earned $0.95 EPS. Sell-side analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.98%. IDACORP’s payout ratio is 61.10%.

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.