Hilton Capital Management LLC acquired a new position in shares of IDACORP, Inc. (NYSE:IDA – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,951 shares of the energy company’s stock, valued at approximately $221,000.
Several other hedge funds and other institutional investors have also modified their holdings of IDA. Trust Co. of Vermont purchased a new position in IDACORP during the 4th quarter worth approximately $28,000. Aquire Wealth Advisors LLC purchased a new position in shares of IDACORP during the 4th quarter valued at $61,000. Covestor Ltd purchased a new position in shares of IDACORP during the 4th quarter valued at $64,000. First Horizon Advisors Inc. grew its holdings in shares of IDACORP by 181.1% during the 4th quarter. First Horizon Advisors Inc. now owns 579 shares of the energy company’s stock valued at $65,000 after acquiring an additional 373 shares in the last quarter. Finally, Destiny Wealth Partners LLC grew its holdings in shares of IDACORP by 24.5% during the 4th quarter. Destiny Wealth Partners LLC now owns 656 shares of the energy company’s stock valued at $74,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.
Shares of NYSE IDA traded down $0.22 during trading hours on Wednesday, hitting $107.52. 1,513 shares of the company’s stock were exchanged, compared to its average volume of 242,351. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 4.87 and a beta of 0.58. The company’s 50-day moving average price is $110.95 and its 200-day moving average price is $109.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.87 and a quick ratio of 1.56. IDACORP, Inc. has a 1-year low of $95.26 and a 1-year high of $118.92.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 3rd will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, May 2nd. IDACORP’s dividend payout ratio is 61.60%.
A number of equities research analysts recently issued reports on IDA shares. Mizuho started coverage on shares of IDACORP in a report on Thursday, March 10th. They issued a “buy” rating and a $119.00 price objective for the company. StockNews.com started coverage on shares of IDACORP in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Wells Fargo & Company upgraded shares of IDACORP from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $108.00 to $110.00 in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $112.67.
About IDACORP (Get Rating)
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.
- Get a free copy of the StockNews.com research report on IDACORP (IDA)
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