Hilton Capital Management LLC Buys New Shares in IDACORP, Inc. (NYSE:IDA)

Hilton Capital Management LLC bought a new stake in IDACORP, Inc. (NYSE:IDAGet Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,951 shares of the energy company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC raised its holdings in shares of IDACORP by 2.7% during the third quarter. Parnassus Investments LLC now owns 1,292,972 shares of the energy company’s stock valued at $133,667,000 after purchasing an additional 34,120 shares during the period. Geode Capital Management LLC raised its holdings in shares of IDACORP by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 857,006 shares of the energy company’s stock worth $97,107,000 after purchasing an additional 37,551 shares during the period. GW&K Investment Management LLC raised its stake in shares of IDACORP by 2.6% in the fourth quarter. GW&K Investment Management LLC now owns 844,240 shares of the energy company’s stock valued at $95,661,000 after buying an additional 21,654 shares during the period. Northern Trust Corp raised its stake in shares of IDACORP by 3.1% in the fourth quarter. Northern Trust Corp now owns 759,357 shares of the energy company’s stock valued at $86,043,000 after buying an additional 22,649 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of IDACORP by 3.3% in the third quarter. Franklin Resources Inc. now owns 561,997 shares of the energy company’s stock valued at $58,100,000 after buying an additional 17,998 shares during the period. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Shares of IDA traded down $0.22 during midday trading on Wednesday, reaching $107.52. The stock had a trading volume of 1,513 shares, compared to its average volume of 242,351. The company’s 50-day moving average is $110.95 and its 200 day moving average is $109.07. IDACORP, Inc. has a 12-month low of $95.26 and a 12-month high of $118.92. The company has a current ratio of 1.87, a quick ratio of 1.56 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 4.87 and a beta of 0.58.

IDACORP (NYSE:IDAGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The energy company reported $0.91 earnings per share (EPS) for the quarter. IDACORP had a return on equity of 9.28% and a net margin of 16.62%. The firm had revenue of $344.29 million during the quarter, compared to analysts’ expectations of $306.55 million. During the same period in the prior year, the business earned $0.89 EPS. Research analysts forecast that IDACORP, Inc. will post 5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Tuesday, May 3rd will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Monday, May 2nd. IDACORP’s payout ratio is currently 61.60%.

IDA has been the subject of several recent research reports. Mizuho initiated coverage on IDACORP in a research report on Thursday, March 10th. They issued a “buy” rating and a $119.00 price target for the company. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $108.00 to $110.00 in a research report on Tuesday, May 3rd. Finally, StockNews.com assumed coverage on IDACORP in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, IDACORP presently has an average rating of “Buy” and a consensus price target of $112.67.

IDACORP Company Profile (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.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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