Aberdeen Group plc Acquires 14,476 Shares of IDACORP, Inc. $IDA

Aberdeen Group plc lifted its stake in IDACORP, Inc. (NYSE:IDA) by 12.5% during the third quarter, Holdings Channel.com reports. The fund owned 130,454 shares of the energy company’s stock after buying an additional 14,476 shares during the period. Aberdeen Group plc’s holdings in IDACORP were worth $17,050,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP during the 2nd quarter worth approximately $28,000. Quent Capital LLC acquired a new position in IDACORP during the third quarter worth $30,000. Smartleaf Asset Management LLC raised its position in IDACORP by 62.0% during the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after acquiring an additional 119 shares in the last quarter. Parkside Financial Bank & Trust raised its position in IDACORP by 33.6% during the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock worth $44,000 after acquiring an additional 96 shares in the last quarter. Finally, SouthState Corp lifted its stake in IDACORP by 2,475.0% in the second quarter. SouthState Corp now owns 515 shares of the energy company’s stock valued at $59,000 after acquiring an additional 495 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

NYSE IDA opened at $141.47 on Thursday. IDACORP, Inc. has a fifty-two week low of $108.15 and a fifty-two week high of $145.94. The stock has a market cap of $7.65 billion, a PE ratio of 24.31, a PEG ratio of 2.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09. The firm’s fifty day moving average price is $131.55 and its two-hundred day moving average price is $129.76.

IDACORP Announces Dividend

The company also recently declared 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 2.5%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

Wall Street Analysts Forecast Growth

IDA has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Morgan Stanley decreased their target price on shares of IDACORP from $146.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Barclays assumed coverage on IDACORP in a research report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. Finally, BTIG Research reissued a “buy” rating and issued a $156.00 target price on shares of IDACORP in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $137.67.

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.