IDACORP, Inc. (NYSE:IDA) Shares Bought by Tributary Capital Management LLC

Tributary Capital Management LLC grew its stake in shares of IDACORP, Inc. (NYSE:IDA) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,795 shares of the energy company’s stock after purchasing an additional 3,608 shares during the quarter. IDACORP accounts for 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Tributary Capital Management LLC’s holdings in IDACORP were worth $22,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in shares of IDACORP by 98.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after acquiring an additional 120 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP in the third quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in shares of IDACORP in the third quarter worth about $26,000. Versant Capital Management Inc lifted its stake in shares of IDACORP by 2,150.0% in the fourth quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of IDACORP by 35.9% in the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock worth $46,000 after acquiring an additional 117 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 issued reports on IDA shares. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price objective on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their target price for the company from $102.00 to $116.00 in a report on Friday, November 1st. Finally, Morgan Stanley upped their target price on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $114.60.

IDACORP Stock Performance

Shares of IDA stock opened at $109.01 on Friday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.65. The business has a 50 day simple moving average of $112.23 and a 200 day simple moving average of $105.93. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The business had revenue of $528.53 million during 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 last year, the company earned $2.07 earnings per share. On average, equities research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be given a $0.86 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.16%. IDACORP’s dividend payout ratio (DPR) is 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.