Victory Capital Management Inc. Has $149.24 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Victory Capital Management Inc. lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,447,637 shares of the energy company’s stock after purchasing an additional 1,646 shares during the quarter. Victory Capital Management Inc.’s holdings in IDACORP were worth $149,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Trust Point Inc. grew its position in shares of IDACORP by 1.4% in the 3rd quarter. Trust Point Inc. now owns 7,374 shares of the energy company’s stock valued at $760,000 after purchasing an additional 101 shares during the period. Pitcairn Co. grew its position in shares of IDACORP by 2.4% in the 1st quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock valued at $402,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. grew its position in shares of IDACORP by 7.5% in the 3rd quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after purchasing an additional 106 shares during the period. Raymond James Trust N.A. grew its position in shares of IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock valued at $597,000 after purchasing an additional 107 shares during the period. Finally, Fortem Financial Group LLC lifted its stake in IDACORP by 1.2% in the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after acquiring an additional 112 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 1.2 %

Shares of IDACORP stock opened at $118.37 on Wednesday. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $119.26. The stock has a market cap of $6.31 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.61 and a beta of 0.60. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $104.44 and its 200-day moving average is $99.29.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 31st. The energy company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to the consensus estimate of $524.39 million. During the same quarter last year, the company posted $2.07 EPS. Equities research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, November 5th. This is a boost from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s dividend payout ratio is 63.82%.

Analyst Ratings Changes

Several equities research analysts have commented on IDA shares. 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. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and boosted their target price for the company from $113.00 to $117.00 in a research note on Tuesday, November 5th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Morgan Stanley boosted their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group began coverage on IDACORP in a research note on Friday, September 20th. They issued a “hold” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, IDACORP currently has a consensus rating of “Hold” and a consensus target price of $108.83.

IDACORP 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.