Asset Planning Inc Invests $58,000 in IDACORP, Inc. (NYSE:IDA)

Asset Planning Inc purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 530 shares of the energy company’s stock, valued at approximately $58,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDA. Legacy Investment Solutions LLC purchased a new position in shares of IDACORP during the third quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in shares of IDACORP during the third quarter worth about $26,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Versant Capital Management Inc boosted its holdings in IDACORP by 2,150.0% in the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 1.6 %

Shares of IDACORP stock opened at $109.70 on Friday. 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, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42. The company has a market capitalization of $5.84 billion, a P/E ratio of 20.35, a P/E/G ratio of 2.28 and a beta of 0.65. The business has a 50 day moving average price of $110.03 and a 200 day moving average price of $107.52.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.86 per share. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.14%. IDACORP’s dividend payout ratio is currently 63.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on IDA shares. Jefferies Financial Group lowered their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Morgan Stanley boosted their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. One investment 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $116.20.

IDACORP Profile

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.