Quantinno Capital Management LP Has $1.29 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Quantinno Capital Management LP boosted its stake in IDACORP, Inc. (NYSE:IDA) by 30.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,555 shares of the energy company’s stock after buying an additional 2,956 shares during the period. Quantinno Capital Management LP’s holdings in IDACORP were worth $1,294,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in IDACORP during the 2nd quarter worth approximately $8,032,000. Algert Global LLC boosted its holdings in shares of IDACORP by 42.5% in the 3rd quarter. Algert Global LLC now owns 35,383 shares of the energy company’s stock worth $3,648,000 after buying an additional 10,550 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of IDACORP in the 2nd quarter worth about $1,833,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of IDACORP by 67.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 47,707 shares of the energy company’s stock worth $4,918,000 after buying an additional 19,274 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in IDACORP during the third quarter valued at about $3,228,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

IDA opened at $113.16 on Friday. The business has a fifty day moving average of $110.41 and a 200 day moving average of $102.30. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $120.42. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.03 billion, a P/E ratio of 20.99, a PEG ratio of 2.56 and a beta of 0.64.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The firm had revenue of $528.53 million during the quarter, compared to analysts’ expectations of $524.39 million. During the same quarter in the prior year, the company posted $2.07 earnings per share. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were paid a dividend of $0.86 per share. This is a boost from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Tuesday, November 5th. IDACORP’s dividend payout ratio is 63.82%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IDA. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They set a “hold” rating and a $110.00 price objective for the company. Morgan Stanley raised their price target on IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company increased their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Finally, Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $117.00 in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $108.83.

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.