Cetera Advisor Networks LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,474 shares of the energy company’s stock, valued at approximately $238,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDA. LPL Financial LLC raised its stake in IDACORP by 36.2% during the third quarter. LPL Financial LLC now owns 8,431 shares of the energy company’s stock valued at $674,000 after buying an additional 2,242 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in IDACORP during the third quarter valued at $2,757,000. UBS Asset Management Americas Inc. raised its stake in IDACORP by 1.9% during the third quarter. UBS Asset Management Americas Inc. now owns 87,650 shares of the energy company’s stock valued at $7,003,000 after buying an additional 1,594 shares during the last quarter. Truist Financial Corp purchased a new position in IDACORP during the third quarter valued at $2,213,000. Finally, Morgan Stanley raised its stake in IDACORP by 233.4% during the third quarter. Morgan Stanley now owns 151,940 shares of the energy company’s stock valued at $12,139,000 after buying an additional 106,363 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.
IDACORP stock opened at $100.28 on Thursday. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 7.40 and a beta of 0.43. The stock has a fifty day simple moving average of $94.54 and a two-hundred day simple moving average of $90.91. IDACORP, Inc. has a 12 month low of $78.91 and a 12 month high of $102.96. The company has a current ratio of 2.26, a quick ratio of 1.92 and a debt-to-equity ratio of 0.78.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 5th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, February 4th. IDACORP’s payout ratio is currently 61.61%.
Separately, Wells Fargo & Company cut IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $95.00 to $94.00 in a research note on Wednesday, January 6th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $101.75.
IDACORP, Inc 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, Nevada, and Oregon.
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