Anchor Capital Advisors LLC Acquires 27,031 Shares of IDACORP, Inc. (NYSE:IDA)

Anchor Capital Advisors LLC increased its holdings in IDACORP, Inc. (NYSE:IDA) by 17.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 180,068 shares of the energy company’s stock after purchasing an additional 27,031 shares during the period. Anchor Capital Advisors LLC’s holdings in IDACORP were worth $16,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Eagle Investment Management LLC grew its position in shares of IDACORP by 18.4% in the 1st quarter. First Eagle Investment Management LLC now owns 129,880 shares of the energy company’s stock valued at $12,065,000 after buying an additional 20,184 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of IDACORP by 6.5% in the fourth quarter. Westwood Holdings Group Inc. now owns 204,925 shares of the energy company’s stock worth $20,148,000 after acquiring an additional 12,432 shares during the period. Buckley Wealth Management LLC boosted its holdings in IDACORP by 273.1% in the first quarter. Buckley Wealth Management LLC now owns 38,425 shares of the energy company’s stock valued at $3,569,000 after acquiring an additional 28,125 shares during the last quarter. Sei Investments Co. increased its position in IDACORP by 90.0% during the 1st quarter. Sei Investments Co. now owns 74,368 shares of the energy company’s stock valued at $6,908,000 after purchasing an additional 35,217 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in IDACORP by 99.7% during the 4th quarter. Allianz Asset Management GmbH now owns 19,842 shares of the energy company’s stock worth $1,951,000 after purchasing an additional 9,904 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

IDACORP Stock Down 1.1 %

IDACORP stock opened at $103.30 on Friday. The company has a market capitalization of $5.50 billion, a PE ratio of 20.74 and a beta of 0.60. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24. The firm’s fifty day moving average is $98.71 and its 200 day moving average is $94.79. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million for the quarter, compared to analyst estimates of $420.56 million. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. During the same quarter in the prior year, the business earned $1.35 earnings per share. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were paid a $0.83 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.21%. IDACORP’s dividend payout ratio (DPR) is presently 66.67%.

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.