Radnor Capital Management LLC Takes Position in IDACORP, Inc. (NYSE:IDA)

Radnor Capital Management LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) in the third quarter, HoldingsChannel reports. The fund bought 2,249 shares of the energy company’s stock, valued at approximately $232,000.

A number of other large investors have also modified their holdings of IDA. V Square Quantitative Management LLC acquired a new stake in shares of IDACORP in the third quarter valued at about $26,000. Rise Advisors LLC grew its stake in shares of IDACORP by 65.8% in the second quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after buying an additional 146 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of IDACORP in the second quarter valued at about $35,000. Eastern Bank acquired a new stake in IDACORP during the 3rd quarter valued at approximately $52,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in IDACORP during the 2nd quarter valued at approximately $71,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Down 0.2 %

Shares of NYSE IDA opened at $111.22 on Friday. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 20.63, a price-to-earnings-growth ratio of 3.59 and a beta of 0.60. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $112.03. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The stock’s 50 day simple moving average is $103.59 and its 200 day simple moving average is $98.76.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). The company had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period last year, the business posted $2.07 EPS. Equities research analysts expect that IDACORP, Inc. will post 5.38 EPS for the current year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $3.44 annualized dividend and a yield of 3.09%. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is presently 61.60%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IDA. StockNews.com lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley raised their price objective on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Jefferies Financial Group assumed 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. Finally, Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $117.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDACORP presently has an average rating of “Hold” and an average price target of $108.83.

About IDACORP

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.