Victory Capital Management Inc. Has $149.24 Million Holdings in IDACORP, Inc. (NYSE:IDA)

Victory Capital Management Inc. boosted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,447,637 shares of the energy company’s stock after buying an additional 1,646 shares during the period. Victory Capital Management Inc. owned about 2.72% of IDACORP worth $149,237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in shares of IDACORP by 42.4% in the 1st quarter. BNP Paribas Financial Markets now owns 11,635 shares of the energy company’s stock valued at $1,081,000 after purchasing an additional 3,464 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of IDACORP by 8.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,542 shares of the energy company’s stock valued at $1,629,000 after purchasing an additional 1,405 shares during the period. Sei Investments Co. increased its holdings in shares of IDACORP by 90.0% in 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in IDACORP by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 101,299 shares of the energy company’s stock worth $9,410,000 after buying an additional 6,288 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in IDACORP in the first quarter worth approximately $306,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 target price for the company. Wells Fargo & Company raised their price objective on shares of IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their price objective on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, IDACORP has an average rating of “Hold” and a consensus price target of $108.83.

IDACORP Stock Performance

IDACORP stock opened at $118.37 on Wednesday. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.61 and a beta of 0.60. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $119.26. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $104.44 and a 200 day simple moving average of $99.29.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share 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 the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the prior year, the firm posted $2.07 earnings per share. On average, research analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.86 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, November 5th. IDACORP’s payout ratio is presently 63.82%.

About IDACORP

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.