Nomura Holdings Inc. Makes New $772,000 Investment in IDACORP, Inc. (NYSE:IDA)

Nomura Holdings Inc. bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, HoldingsChannel reports. The firm bought 7,068 shares of the energy company’s stock, valued at approximately $772,000.

A number of other large investors also recently bought and sold shares of IDA. Barclays PLC lifted its holdings in shares of IDACORP by 90.9% in the 3rd quarter. Barclays PLC now owns 27,184 shares of the energy company’s stock worth $2,803,000 after purchasing an additional 12,944 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of IDACORP in the 4th quarter worth approximately $913,000. Park Avenue Securities LLC lifted its holdings in shares of IDACORP by 46.2% in the 4th quarter. Park Avenue Securities LLC now owns 3,660 shares of the energy company’s stock worth $400,000 after purchasing an additional 1,156 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of IDACORP by 6.0% in the 4th quarter. UMB Bank n.a. now owns 2,404 shares of the energy company’s stock worth $263,000 after purchasing an additional 137 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of IDACORP by 98.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock worth $26,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the topic of several recent research reports. Bank of America raised their price target on IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Wells Fargo & Company raised 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 target price on 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 cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Finally, Guggenheim raised their target price on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, IDACORP presently has a consensus rating of “Hold” and an average price target of $123.57.

IDACORP Stock Up 1.4%

Shares of IDA stock opened at $117.18 on Tuesday. IDACORP, Inc. has a 1 year low of $90.64 and a 1 year high of $120.84. The stock has a market cap of $6.33 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The business’s fifty day moving average is $115.91 and its 200-day moving average is $113.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.

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

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP’s dividend payout ratio (DPR) is presently 61.10%.

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.