Northern Trust Corp Has $49.65 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Northern Trust Corp boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 454,357 shares of the energy company’s stock after purchasing an additional 64,447 shares during the quarter. Northern Trust Corp owned about 0.85% of IDACORP worth $49,652,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IDA. MassMutual Private Wealth & Trust FSB lifted its position in shares of IDACORP by 98.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after acquiring an additional 120 shares during the period. Independence Bank of Kentucky raised its holdings in shares of IDACORP by 123.6% during the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock valued at $44,000 after purchasing an additional 225 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of IDACORP during the 3rd quarter worth about $53,000. Jones Financial Companies Lllp grew its stake in shares of IDACORP by 1,333.3% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company’s stock valued at $56,000 after buying an additional 480 shares during the period. Finally, Asset Planning Inc acquired a new position in IDACORP during the 4th quarter worth approximately $58,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Down 0.3 %

IDA opened at $116.31 on Thursday. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The company has a 50 day moving average of $116.10 and a 200 day moving average of $113.02. 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 company has a market cap of $6.28 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. During the same period last year, the firm earned $0.95 EPS. On average, sell-side analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Monday, May 5th. IDACORP’s dividend payout ratio (DPR) is 61.10%.

Wall Street Analysts Forecast Growth

IDA has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Morgan Stanley raised their price target on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Bank of America boosted their target price on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Finally, UBS Group lifted their price target on IDACORP from $117.00 to $122.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.57.

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.