1,949 Shares in IDACORP, Inc. (NYSE:IDA) Bought by Longboard Asset Management LP

Longboard Asset Management LP purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,949 shares of the energy company’s stock, valued at approximately $213,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Point Inc. raised its holdings in shares of IDACORP by 34.1% during the 4th quarter. Trust Point Inc. now owns 9,892 shares of the energy company’s stock valued at $1,081,000 after buying an additional 2,518 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company’s stock worth $91,000 after acquiring an additional 100 shares in the last quarter. Journey Strategic Wealth LLC raised its stake in shares of IDACORP by 4.2% during the fourth quarter. Journey Strategic Wealth LLC now owns 4,202 shares of the energy company’s stock worth $459,000 after acquiring an additional 169 shares in the last quarter. Independence Bank of Kentucky lifted its holdings in shares of IDACORP by 123.6% in the 4th quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after acquiring an additional 225 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company’s stock valued at $311,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on IDA shares. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their target price on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and increased their target price for the company from $102.00 to $116.00 in a report on Friday, November 1st. Morgan Stanley lifted their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group dropped their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, IDACORP presently has an average rating of “Hold” and an average price target of $116.20.

IDACORP Trading Up 0.7 %

IDA opened at $110.70 on Tuesday. IDACORP, Inc. has a one year low of $86.43 and a one year high of $120.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The business has a 50 day simple moving average of $111.16 and a two-hundred day simple moving average of $106.75. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.25 and a beta of 0.65.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Wednesday, February 5th. IDACORP’s payout ratio is 63.82%.

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.