RW Investment Management LLC Buys 938 Shares of IDACORP, Inc. (NYSE:IDA)

RW Investment Management LLC grew its stake in shares of IDACORP, Inc. (NYSE:IDA) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,888 shares of the energy company’s stock after buying an additional 938 shares during the quarter. IDACORP accounts for approximately 0.2% of RW Investment Management LLC’s portfolio, making the stock its 28th largest holding. RW Investment Management LLC’s holdings in IDACORP were worth $1,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of IDACORP by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after buying an additional 359,553 shares during the last quarter. State Street Corp grew its stake in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after buying an additional 86,642 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IDACORP by 3.9% during the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after buying an additional 36,063 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of IDACORP by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after buying an additional 35,651 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of IDACORP by 14.2% during the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock valued at $59,509,000 after buying an additional 67,568 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Performance

IDACORP stock opened at $112.08 on Thursday. The stock’s 50 day simple moving average is $109.88 and its two-hundred day simple moving average is $107.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.25 and a beta of 0.65. IDACORP, Inc. has a fifty-two week low of $86.47 and a fifty-two week high of $120.42.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders 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 yield of 3.07%. IDACORP’s payout ratio is 63.82%.

Analyst Upgrades and Downgrades

IDA has been the topic of several recent analyst reports. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut their target price on IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a research note on Tuesday, January 28th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley raised their target price 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, Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and a consensus target price 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.