Franklin Resources Inc. Increases Holdings in IDACORP, Inc. by 261.6%

Franklin Resources Inc. has recently announced that it has greatly increased its holdings in IDACORP, Inc. by a staggering 261.6% during the fourth quarter of the fiscal year. This move has seen Franklin Resources Inc’s stake in IDACORP skyrocket to over 278,000 shares, valuing at a staggering $30 million at the most recent filing with the Securities & Exchange Commission.

This news comes as a surprise to investors who were on the fence about IDACORP and its direction in the energy industry. With such a significant increase in interest from one of Wall Street’s most prominent investment firms, it’s hard not to take notice of what IDACORP could bring to the table as far as investments go.

IDACORP is a holding company that specializes in electric energy generation and distribution; with its two main segments focusing on Utilities Operations and All Other operations respectively. The firm has a market capitalization of $5.23 billion, PE ratio of 19.47 and beta of 0.62- indicating steady growth and security over time.

It’s essential to note that while this holding by Franklin Resources Inc is impressive, there are still other variables at play when evaluating IDACORP further, including debt ratios and market share concerns.

Overall however, we can conclude that these developments make for interesting times ahead within this particular sector of the energy markets in regards to matters such as production outputs or even exploring renewable energies further down the line.

Shares of NYSE:IDA currently trade at around $103.36-per-share but appear to be poised for growth if positive sentiment surrounding this development continues into upcoming earnings reports.

Ultimately though, only time will tell whether these investments align well with each investors best interests – so stay tuned!

Institutional Investors Show Interest in IDACORP Stocks Despite Analysts’ ‘Hold’ Rating

IDACORP, Inc., a leading American energy company engaged in the generation, transmission, distribution, sale, and purchase of electric energy, has seen an increase in holdings by institutional investors. This includes FourThought Financial LLC raising its holdings by 125.4% during the third quarter to own 257 shares worth $25,000 after acquiring an additional 143 shares. In addition, EverSource Wealth Advisors LLC purchased a new position in IDACORP’s shares worth $33,000 during the fourth quarter while Crewe Advisors LLC and Belpointe Asset Management acquired new positions each at $35,000. Cohen & Steers Inc. raised its holdings in IDACORP’s shares for the first quarter by 33.8%, bringing it to now own 400 shares worth $46,000.

Despite these recent positive developments for IDACORP’s holders, research analysts have maintained an average “Hold” rating for the firm’s stocks with one analyst rating them as a “Sell.” On Thursday May 4th IDACORP reported Q1 earnings per share at $1.11 EPS beating analysts’ estimates of $0.95 EPS by $0.16 for the same period which contributed to the increased confidence from some shareholders.

The energy company recently stated their quarterly dividend which will be paid on Wednesday May 31st while record holders of stock by May 3rd would receive a payout of $0.79 per share equating to an annualized dividend yield of 3.06%. As more institutional investors show interest in investing their holdings into IDACORP’s stocks which also shows increasing earnings per share (EPS), this may attract even more investors towards purchasing stocks within this company in hopes that it will continue leaning towards positive growth long term.#