Anchor Capital Advisors LLC Acquires 2,880 Shares of IDACORP, Inc. (NYSE:IDA)

Anchor Capital Advisors LLC increased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,530 shares of the energy company’s stock after purchasing an additional 2,880 shares during the quarter. Anchor Capital Advisors LLC owned 0.31% of IDACORP worth $15,390,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP bought a new stake in IDACORP in the 3rd quarter valued at approximately $101,858,000. Victory Capital Management Inc. boosted its holdings in IDACORP by 32.1% during the third quarter. Victory Capital Management Inc. now owns 921,287 shares of the energy company’s stock worth $86,279,000 after purchasing an additional 223,722 shares during the last quarter. American Trust grew its position in IDACORP by 13.7% in the third quarter. American Trust now owns 828,208 shares of the energy company’s stock valued at $77,562,000 after purchasing an additional 100,016 shares in the last quarter. River Road Asset Management LLC lifted its position in IDACORP by 335.2% during the 3rd quarter. River Road Asset Management LLC now owns 632,457 shares of the energy company’s stock worth $59,230,000 after buying an additional 487,134 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in IDACORP by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 602,896 shares of the energy company’s stock valued at $56,461,000 after purchasing an additional 24,266 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IDA. Mizuho cut their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research note on Friday. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research report on Monday, January 22nd. Morgan Stanley boosted their price objective on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Finally, TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and a consensus price target of $93.80.

IDACORP Price Performance

NYSE:IDA traded down $0.57 on Tuesday, hitting $94.32. The company had a trading volume of 12,692 shares, compared to its average volume of 375,370. The firm has a 50 day moving average of $90.99 and a two-hundred day moving average of $93.98. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 18.46 and a beta of 0.56. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $112.91.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $411.95 million for the quarter, compared to analyst estimates of $429.84 million. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. During the same period in the previous year, the firm earned $0.83 earnings per share. On average, research analysts anticipate that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.52%. IDACORP’s dividend payout ratio is currently 64.59%.

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.