First National Bank of Omaha Invests $6.48 Million in IDACORP, Inc. $IDA

First National Bank of Omaha acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,037 shares of the energy company’s stock, valued at approximately $6,480,000.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its position in IDACORP by 6.3% in the second quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock valued at $216,264,000 after purchasing an additional 110,885 shares during the period. Reaves W H & Co. Inc. raised its holdings in IDACORP by 8.5% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock valued at $224,745,000 after buying an additional 133,836 shares during the period. Alliancebernstein L.P. raised its holdings in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after buying an additional 13,283 shares during the period. Jennison Associates LLC boosted its stake in IDACORP by 3.5% during the third quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock worth $181,055,000 after buying an additional 46,413 shares during the period. Finally, Geode Capital Management LLC boosted its stake in IDACORP by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock worth $117,905,000 after buying an additional 15,223 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Trading Down 0.7%

NYSE:IDA opened at $143.18 on Wednesday. IDACORP, Inc. has a 12-month low of $108.15 and a 12-month high of $145.94. The firm has a market cap of $7.74 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.80 and a beta of 0.59. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $131.23 and a 200 day moving average price of $129.68.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. IDACORP’s payout ratio is currently 60.48%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IDA shares. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Saturday. BTIG Research restated a “buy” rating and set a $156.00 price target on shares of IDACORP in a research note on Friday, January 30th. Jefferies Financial Group dropped their price objective on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, January 28th. Morgan Stanley cut their price objective on IDACORP from $146.00 to $145.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. Finally, Wells Fargo & Company lowered IDACORP from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $129.00 to $118.00 in a research note on Tuesday, January 20th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IDACORP currently has an average rating of “Moderate Buy” and a consensus price target of $137.67.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.