Illinois Municipal Retirement Fund Has $1.03 Million Holdings in IDACORP, Inc. (NYSE:IDA)

Illinois Municipal Retirement Fund grew its stake in IDACORP, Inc. (NYSE:IDA) by 58.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,421 shares of the energy company’s stock after buying an additional 3,468 shares during the period. Illinois Municipal Retirement Fund’s holdings in IDACORP were worth $1,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of IDACORP by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the last quarter. State Street Corp lifted its position in shares of IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of IDACORP by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after purchasing an additional 36,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of IDACORP by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock worth $71,368,000 after purchasing an additional 35,651 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of IDACORP by 14.2% during the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company’s stock worth $59,509,000 after purchasing an additional 67,568 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IDA shares. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. StockNews.com cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut their price objective on IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. Morgan Stanley upped their price target on IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.20.

IDACORP Trading Up 2.7 %

IDACORP stock opened at $118.12 on Monday. IDACORP, Inc. has a 12 month low of $86.47 and a 12 month high of $120.42. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The business has a 50 day moving average price of $110.44 and a two-hundred day moving average price of $108.50. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. As a group, equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were paid a $0.86 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.91%. IDACORP’s dividend payout ratio is currently 62.77%.

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.