Glenmede Trust Co. NA reduced its holdings in shares of IDACORP Inc (NYSE:IDA) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 595,190 shares of the coal producer’s stock after selling 8,523 shares during the quarter. Glenmede Trust Co. NA’s holdings in IDACORP were worth $54,375,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of IDA. Macquarie Group Ltd. raised its stake in shares of IDACORP by 1.7% in the fourth quarter. Macquarie Group Ltd. now owns 160,075 shares of the coal producer’s stock valued at $13,500,000 after buying an additional 2,700 shares during the period. Vident Investment Advisory LLC raised its stake in shares of IDACORP by 78.6% in the fourth quarter. Vident Investment Advisory LLC now owns 4,158 shares of the coal producer’s stock valued at $380,000 after buying an additional 1,830 shares during the period. Cypress Wealth Advisors LLC bought a new stake in shares of IDACORP in the fourth quarter valued at $203,000. Jane Street Group LLC bought a new stake in shares of IDACORP in the fourth quarter valued at $745,000. Finally, Zeke Capital Advisors LLC bought a new stake in shares of IDACORP in the fourth quarter valued at $271,000. Institutional investors and hedge funds own 75.91% of the company’s stock.
Shares of IDACORP Inc (NYSE:IDA) opened at $86.10 on Friday. The stock has a market capitalization of $4,234.47, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 4.94 and a beta of 0.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.21 and a quick ratio of 1.65. IDACORP Inc has a one year low of $79.59 and a one year high of $100.04.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.74%. IDACORP’s payout ratio is 55.92%.
Several analysts have issued reports on IDA shares. Bank of America started coverage on IDACORP in a research note on Tuesday, January 9th. They issued an “underperform” rating and a $85.00 target price on the stock. Zacks Investment Research lowered IDACORP from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Williams Capital restated a “hold” rating and issued a $80.00 target price (down from $86.00) on shares of IDACORP in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $87.33.
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IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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