Rhumbline Advisers Has $22.73 Million Stake in IDACORP, Inc. $IDA

Rhumbline Advisers increased its stake in IDACORP, Inc. (NYSE:IDA) by 8.9% in the third quarter, Holdings Channel.com reports. The firm owned 171,993 shares of the energy company’s stock after purchasing an additional 14,061 shares during the quarter. Rhumbline Advisers’ holdings in IDACORP were worth $22,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of IDACORP by 115.3% in the second quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock valued at $152,816,000 after purchasing an additional 708,989 shares in the last quarter. Orion Porfolio Solutions LLC raised its position in IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after buying an additional 586,221 shares during the last quarter. Soros Fund Management LLC bought a new stake in IDACORP in the 2nd quarter valued at approximately $46,919,000. BROOKFIELD Corp ON acquired a new position in IDACORP during the 2nd quarter worth approximately $33,920,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in IDACORP during the 2nd quarter worth approximately $29,728,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on IDA shares. BTIG Research reiterated a “buy” rating and issued a $156.00 price target on shares of IDACORP in a research note on Friday, January 30th. Barclays began coverage on IDACORP in a research report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 target price on the stock. UBS Group reduced their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Jefferies Financial Group decreased their price target on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Saturday. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.67.

IDACORP Stock Up 2.1%

IDA opened at $144.33 on Tuesday. The stock’s fifty day simple moving average is $130.87 and its 200 day simple moving average is $129.55. IDACORP, Inc. has a 1-year low of $108.15 and a 1-year high of $145.30. The stock has a market cap of $7.80 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.80 and a beta of 0.59. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.