James Investment Research Inc. Acquires 430 Shares of IDACORP, Inc. (NYSE:IDA)

James Investment Research Inc. increased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 11.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,208 shares of the energy company’s stock after buying an additional 430 shares during the period. James Investment Research Inc.’s holdings in IDACORP were worth $434,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in IDACORP during the 3rd quarter worth $26,000. Rise Advisors LLC lifted its stake in shares of IDACORP by 65.8% in the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after purchasing an additional 146 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of IDACORP in the 2nd quarter valued at $35,000. Eastern Bank acquired a new position in shares of IDACORP in the 3rd quarter valued at $52,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of IDACORP in the 2nd quarter valued at $71,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDA. Morgan Stanley increased their price target on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and increased their price target for the company from $102.00 to $116.00 in a research note on Friday. Bank of America assumed coverage on IDACORP in a research note on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price target on the stock. Jefferies Financial Group assumed coverage on IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective on the stock. Finally, StockNews.com raised IDACORP from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and a consensus price target of $107.67.

IDACORP Stock Performance

IDA opened at $105.85 on Friday. The business’s 50-day moving average price is $102.92 and its two-hundred day moving average price is $98.25. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $109.47. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 3.47 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.55 and a quick ratio of 1.17.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.38%. The firm had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same period in the prior year, the business earned $2.07 EPS. Equities analysts expect that IDACORP, Inc. will post 5.39 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th will be issued a $0.86 dividend. This is a boost from IDACORP’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.25%. IDACORP’s dividend payout ratio (DPR) is presently 61.60%.

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.