IDACORP, Inc. (NYSE:IDA) Shares Sold by Arizona State Retirement System

Arizona State Retirement System cut its stake in IDACORP, Inc. (NYSE:IDA) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,150 shares of the energy company’s stock after selling 259 shares during the period. Arizona State Retirement System’s holdings in IDACORP were worth $1,391,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IDA. Wellington Management Group LLP acquired a new stake in shares of IDACORP in the third quarter worth approximately $101,858,000. Victory Capital Management Inc. lifted its position in IDACORP by 5,338.0% during the fourth quarter. Victory Capital Management Inc. now owns 602,962 shares of the energy company’s stock valued at $65,029,000 after buying an additional 591,874 shares in the last quarter. River Road Asset Management LLC lifted its position in IDACORP by 335.2% during the third quarter. River Road Asset Management LLC now owns 632,457 shares of the energy company’s stock valued at $59,230,000 after buying an additional 487,134 shares in the last quarter. Vanguard Group Inc. lifted its position in IDACORP by 5.6% during the first quarter. Vanguard Group Inc. now owns 5,874,121 shares of the energy company’s stock valued at $677,639,000 after buying an additional 313,956 shares in the last quarter. Finally, State Street Corp lifted its position in IDACORP by 15.2% during the first quarter. State Street Corp now owns 1,674,867 shares of the energy company’s stock valued at $193,213,000 after buying an additional 221,072 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TheStreet cut shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 22nd. Morgan Stanley boosted their target price on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Mizuho reduced their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company reduced their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, IDACORP has an average rating of “Hold” and an average price target of $93.80.

IDACORP Price Performance

NYSE IDA opened at $90.22 on Friday. The company has a market cap of $4.57 billion, a PE ratio of 17.55 and a beta of 0.56. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $112.96. The company has a current ratio of 1.58, a quick ratio of 1.33 and a debt-to-equity ratio of 0.95. The stock’s 50-day moving average price is $90.07 and its two-hundred day moving average price is $94.10.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $411.95 million during the quarter, compared to analysts’ expectations of $429.84 million. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. During the same quarter in the prior year, the business earned $0.83 earnings per share. On average, analysts predict that IDACORP, Inc. will post 5.32 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th were paid a $0.83 dividend. The ex-dividend date was Friday, February 2nd. This represents a $3.32 annualized dividend and a dividend yield of 3.68%. IDACORP’s payout ratio is 64.59%.

IDACORP Company 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.