Buckley Wealth Management LLC Buys 28,125 Shares of IDACORP, Inc. (NYSE:IDA)

Buckley Wealth Management LLC boosted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 273.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,425 shares of the energy company’s stock after purchasing an additional 28,125 shares during the period. IDACORP comprises 1.1% of Buckley Wealth Management LLC’s portfolio, making the stock its 19th largest holding. Buckley Wealth Management LLC’s holdings in IDACORP were worth $3,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDA. EverSource Wealth Advisors LLC raised its position in IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after acquiring an additional 112 shares during the period. Blue Trust Inc. raised its position in IDACORP by 13.5% in the fourth quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock worth $129,000 after acquiring an additional 164 shares during the period. Quadrant Capital Group LLC raised its position in IDACORP by 12.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,529 shares of the energy company’s stock worth $150,000 after acquiring an additional 164 shares during the period. CWM LLC raised its position in IDACORP by 22.2% in the fourth quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after acquiring an additional 180 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in IDACORP by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 22,393 shares of the energy company’s stock worth $2,202,000 after acquiring an additional 220 shares during the period. Institutional investors own 89.10% of the company’s stock.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the transaction, the vice president now directly owns 1,650 shares of the company’s stock, valued at approximately $156,898.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IDA. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price objective on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Mizuho increased their price objective 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, Morgan Stanley reduced their price objective on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $96.40.

IDACORP Price Performance

IDA traded up $0.42 during trading on Friday, hitting $93.10. 92,450 shares of the company traded hands, compared to its average volume of 373,547. The company has a market cap of $4.96 billion, a PE ratio of 18.62 and a beta of 0.57. The stock’s 50-day simple moving average is $94.54 and its two-hundred day simple moving average is $93.35. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $106.33. The company has a current ratio of 1.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.06). The company had revenue of $448.94 million for the quarter, compared to analysts’ expectations of $441.21 million. IDACORP had a net margin of 14.18% and a return on equity of 8.71%. During the same period in the previous year, the business posted $1.11 earnings per share. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.36 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.57%. IDACORP’s payout ratio is 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.