New York State Common Retirement Fund Decreases Stock Holdings in IDACORP, Inc. (NYSE:IDA)

New York State Common Retirement Fund lowered its holdings in IDACORP, Inc. (NYSE:IDA) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 200,612 shares of the energy company’s stock after selling 22,224 shares during the period. New York State Common Retirement Fund’s holdings in IDACORP were worth $21,923,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC raised its stake in shares of IDACORP by 63.0% during the 3rd quarter. CWM LLC now owns 1,475 shares of the energy company’s stock worth $152,000 after purchasing an additional 570 shares during the period. Creative Planning increased its holdings in IDACORP by 9.3% during the third quarter. Creative Planning now owns 17,104 shares of the energy company’s stock worth $1,763,000 after buying an additional 1,449 shares during the last quarter. Blue Trust Inc. boosted its stake in IDACORP by 7.5% in the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company’s stock valued at $157,000 after acquiring an additional 106 shares during the last quarter. Eastern Bank purchased a new position in IDACORP in the third quarter valued at about $52,000. Finally, Moody Aldrich Partners LLC grew its position in shares of IDACORP by 33.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 4,102 shares of the energy company’s stock valued at $423,000 after acquiring an additional 1,035 shares during the period. Institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

IDA has been the topic of a number of research reports. Jefferies Financial Group lowered their price target on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating on the stock in a report on Tuesday, January 28th. Mizuho upgraded IDACORP from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Bank of America upgraded IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $113.00 to $117.00 in a research note on Tuesday, November 5th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Guggenheim upgraded shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, IDACORP presently has an average rating of “Hold” and a consensus target price of $116.20.

IDACORP Price Performance

Shares of NYSE IDA opened at $113.98 on Friday. The stock has a fifty day moving average of $109.90 and a 200-day moving average of $107.91. The stock has a market cap of $6.07 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. 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, Inc. has a fifty-two week low of $86.47 and a fifty-two week high of $120.42.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. Equities research analysts anticipate that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.02%. The ex-dividend date is Wednesday, February 5th. IDACORP’s dividend payout ratio is presently 63.82%.

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.