Aster Capital Management DIFC Ltd Decreases Position in IDACORP, Inc. (NYSE:IDA)

Aster Capital Management DIFC Ltd reduced its stake in shares of IDACORP, Inc. (NYSE:IDA) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,281 shares of the energy company’s stock after selling 2,079 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in IDACORP were worth $1,014,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in IDACORP in the fourth quarter valued at approximately $704,000. Assenagon Asset Management S.A. acquired a new stake in IDACORP during the 4th quarter valued at $913,000. JPMorgan Chase & Co. increased its stake in IDACORP by 7.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 343,400 shares of the energy company’s stock worth $35,401,000 after buying an additional 22,485 shares during the period. Apollon Wealth Management LLC purchased a new stake in IDACORP during the 4th quarter worth $213,000. Finally, Van ECK Associates Corp lifted its holdings in IDACORP by 14.2% in the 4th quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock worth $1,809,000 after buying an additional 2,056 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Guggenheim upgraded IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Bank of America raised their price objective on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Morgan Stanley upped their target price on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Jefferies Financial Group upgraded IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group lifted their price target on shares of IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, IDACORP has a consensus rating of “Hold” and a consensus price target of $120.50.

IDACORP Stock Performance

Shares of IDA opened at $114.47 on Friday. The stock has a market capitalization of $6.18 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business’s fifty day moving average price is $113.59 and its 200 day moving average price is $110.68. 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 12-month low of $88.70 and a 12-month high of $120.84.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The company had revenue of $398.13 million for the quarter, compared to the consensus estimate of $403.21 million. Equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

IDACORP Company 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.