IDACORP, Inc. (NYSE:IDA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 171,560 shares of the energy company’s stock after selling 2,598 shares during the period. New York State Common Retirement Fund’s holdings in IDACORP were worth $16,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in IDACORP by 0.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,335 shares of the energy company’s stock worth $1,436,000 after acquiring an additional 129 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in IDACORP by 2.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,076 shares of the energy company’s stock worth $569,000 after acquiring an additional 138 shares in the last quarter. Blue Trust Inc. grew its holdings in IDACORP by 13.5% during the 4th quarter. Blue Trust Inc. now owns 1,383 shares of the energy company’s stock worth $129,000 after acquiring an additional 164 shares in the last quarter. CWM LLC boosted its holdings in shares of IDACORP by 22.2% in the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock valued at $98,000 after buying an additional 180 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of IDACORP by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 14,409 shares of the energy company’s stock valued at $1,349,000 after buying an additional 194 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IDA. Wells Fargo & Company lowered their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. Morgan Stanley upped their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, March 21st. StockNews.com upgraded shares of IDACORP to a “sell” rating in a report on Friday. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, January 22nd. Finally, Mizuho lowered their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $93.80.

IDACORP Stock Down 0.1 %

IDA stock opened at $94.60 on Monday. The company has a fifty day moving average price of $90.86 and a 200 day moving average price of $93.99. IDACORP, Inc. has a 12 month low of $86.43 and a 12 month high of $112.91. The company has a market cap of $4.80 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. The firm had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Sell-side analysts expect that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 3.51%. IDACORP’s payout ratio is currently 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.