Royal London Asset Management Ltd. Has $24.43 Million Stake in IDACORP, Inc. (NYSE:IDA)

Royal London Asset Management Ltd. lifted its position in shares of IDACORP, Inc. (NYSE:IDA) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,571 shares of the energy company’s stock after purchasing an additional 1,532 shares during the quarter. Royal London Asset Management Ltd.’s holdings in IDACORP were worth $24,432,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of IDACORP by 17.7% during the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the period. State Street Corp raised its position in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the period. Reaves W H & Co. Inc. raised its position in shares of IDACORP by 75.4% during the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock worth $109,103,000 after purchasing an additional 429,276 shares during the period. Geode Capital Management LLC raised its position in IDACORP by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock valued at $97,981,000 after buying an additional 36,063 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in IDACORP by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company’s stock valued at $76,450,000 after buying an additional 7,286 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group lowered their price target on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley increased their price target on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday. UBS Group increased their price target on IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Bank of America increased their price target on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $120.50.

IDACORP Stock Down 1.6 %

IDA stock opened at $114.32 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The stock has a fifty day moving average of $112.22 and a 200-day moving average of $109.80.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. As a group, equities research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.01%. IDACORP’s dividend payout ratio (DPR) is 62.77%.

IDACORP Company Profile

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.