Radnor Capital Management LLC Buys Shares of 2,249 IDACORP, Inc. (NYSE:IDA)

Radnor Capital Management LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,249 shares of the energy company’s stock, valued at approximately $232,000.

Several other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in IDACORP by 1.7% in the second quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company’s stock valued at $134,694,000 after purchasing an additional 23,925 shares during the last quarter. Nuance Investments LLC lifted its position in shares of IDACORP by 19.0% in the second quarter. Nuance Investments LLC now owns 1,114,475 shares of the energy company’s stock valued at $103,813,000 after acquiring an additional 178,294 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IDACORP by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 693,327 shares of the energy company’s stock valued at $64,583,000 after acquiring an additional 47,527 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of IDACORP by 1.3% in the second quarter. Boston Trust Walden Corp now owns 576,189 shares of the energy company’s stock valued at $53,672,000 after acquiring an additional 7,194 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in shares of IDACORP by 30.8% in the second quarter. Deprince Race & Zollo Inc. now owns 576,136 shares of the energy company’s stock valued at $53,667,000 after acquiring an additional 135,793 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IDA shares. StockNews.com downgraded IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and upped their price objective for the company from $113.00 to $117.00 in a research report on Tuesday. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $102.00 to $116.00 in a research report on Friday, November 1st. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price on the stock. Finally, Morgan Stanley increased their target price on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and an average price target of $108.83.

IDACORP Stock Performance

Shares of NYSE:IDA opened at $111.22 on Friday. The firm has a market capitalization of $5.92 billion, a PE ratio of 20.63, a P/E/G ratio of 3.59 and a beta of 0.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The business has a 50-day moving average of $103.59 and a two-hundred day moving average of $98.76. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $112.03.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). The firm had revenue of $528.53 million for the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same quarter in the prior year, the company earned $2.07 earnings per share. As a group, research analysts forecast that IDACORP, Inc. will post 5.38 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 3.09%. IDACORP’s dividend payout ratio is currently 61.60%.

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.