Dimensional Fund Advisors LP Has $63.83 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Dimensional Fund Advisors LP raised its position in IDACORP, Inc. (NYSE:IDA) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 649,195 shares of the energy company’s stock after buying an additional 61,546 shares during the quarter. Dimensional Fund Advisors LP owned 1.28% of IDACORP worth $63,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDA. Headlands Technologies LLC acquired a new position in IDACORP in the 3rd quarter valued at $40,000. Northwest Financial Advisors acquired a new position in IDACORP in the 4th quarter valued at $52,000. CWM LLC grew its holdings in IDACORP by 22.2% in the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock valued at $98,000 after buying an additional 180 shares in the last quarter. Signaturefd LLC lifted its position in shares of IDACORP by 24.2% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock valued at $110,000 after acquiring an additional 229 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of IDACORP by 13.5% during the 4th quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock valued at $129,000 after acquiring an additional 164 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IDA has been the subject of a number of recent analyst reports. StockNews.com upgraded IDACORP to a “sell” rating in a research report on Friday, April 26th. TheStreet downgraded IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Wells Fargo & Company upped their target price on IDACORP from $94.00 to $98.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Mizuho upped their target price on IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley upped their price objective on IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, IDACORP currently has a consensus rating of “Hold” and a consensus target price of $96.80.

IDACORP Price Performance

Shares of IDA stock opened at $95.61 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $106.69. The company has a market cap of $5.09 billion, a P/E ratio of 19.20 and a beta of 0.55. The business has a fifty day simple moving average of $93.91 and a 200 day simple moving average of $94.10.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, May 2nd. The energy company reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.06). IDACORP had a return on equity of 8.71% and a net margin of 14.18%. The firm had revenue of $448.94 million during the quarter, compared to analyst estimates of $441.21 million. During the same period in the previous year, the company earned $1.11 EPS. On average, sell-side analysts forecast that IDACORP, Inc. will post 5.35 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.83 dividend. The ex-dividend date is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 3.47%. IDACORP’s payout ratio is presently 66.67%.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total value of $142,635.00. Following the completion of the transaction, the vice president now owns 1,650 shares of the company’s stock, valued at approximately $156,898.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.47% of the company’s stock.

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.