Anchor Capital Advisors LLC Purchases 27,031 Shares of IDACORP, Inc. (NYSE:IDA)
Anchor Capital Advisors LLC increased its stake in IDACORP, Inc. (NYSE:IDA) by 17.7%, owning 180,068 shares after purchasing 27,031 additional shares recently. Other institutional investors also raised their stakes in IDACORP, totaling 89.10% of ownership. IDACORP reported a Q2 EPS of $0.71, exceeding estimates, and announced a quarterly dividend of $0.83, with a yield of 3.21%. The company's average rating is "Hold" with a target price of $90.80 according to research analysts.
Anchor Capital Advisors LLC lifted its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 17.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,068 shares of the energy company's stock after purchasing an additional 27,031 shares during the period. Anchor Capital Advisors LLC owned 0.34% of IDACORP worth $16,773,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other hedge funds have also added to or reduced their stakes in IDA. Arizona State Retirement System increased its position in IDACORP by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 14,174 shares of the energy company's stock worth $1,320,000 after buying an additional 264 shares during the period. Victory Capital Management Inc. increased its position in IDACORP by 1.7% during the second quarter. Victory Capital Management Inc. now owns 1,445,991 shares of the energy company's stock worth $134,694,000 after acquiring an additional 23,925 shares during the period. Thomas Story & Son LLC raised its stake in IDACORP by 2.2% in the 2nd quarter. Thomas Story & Son LLC now owns 34,205 shares of the energy company's stock worth $3,186,000 after purchasing an additional 750 shares in the last quarter. Fortem Financial Group LLC boosted its holdings in IDACORP by 1.2% in the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company's stock valued at $866,000 after purchasing an additional 112 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of IDACORP by 9.4% during the 2nd quarter. Natixis Advisors LLC now owns 52,999 shares of the energy company's stock worth $4,937,000 after purchasing an additional 4,552 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.
IDACORP Price Performance
IDA stock opened at $103.30 on Friday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 20.74 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. The company has a 50 day simple moving average of $98.71 and a 200 day simple moving average of $94.79. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $105.24.
IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.34. IDACORP had a net margin of 15.04% and a return on equity of 9.16%. The firm had revenue of $451.04 million for the quarter, compared to analysts' expectations of $420.56 million. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.
IDACORP Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were given a $0.83 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $3.32 annualized dividend and a yield of 3.21%. IDACORP's dividend payout ratio is presently 66.67%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on IDA. Mizuho lifted their price target on shares of IDACORP from $88.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, May 16th. Morgan Stanley upped their price objective on shares of IDACORP from $94.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised their target price on shares of IDACORP from $98.00 to $106.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $99.80.
Check Out Our Latest Stock Report on IDACORP
About IDACORP
(Free Report)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.
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