State of New Jersey Common Pension Fund D Buys 144 Shares of IDACORP, Inc. $IDA

State of New Jersey Common Pension Fund D raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 17,854 shares of the energy company’s stock after purchasing an additional 144 shares during the period. State of New Jersey Common Pension Fund D’s holdings in IDACORP were worth $2,061,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IDA. GAMMA Investing LLC grew its holdings in IDACORP by 20.8% during the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock valued at $86,000 after purchasing an additional 127 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of IDACORP by 7.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company’s stock valued at $765,000 after acquiring an additional 456 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of IDACORP by 4.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company’s stock valued at $289,000 after acquiring an additional 100 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of IDACORP by 318.9% in the first quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company’s stock valued at $163,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of IDACORP by 19.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 77,424 shares of the energy company’s stock valued at $9,089,000 after acquiring an additional 12,769 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

NYSE:IDA opened at $133.63 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $7.22 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.88 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $100.10 and a 12 month high of $138.03. The business’s 50-day moving average is $129.82 and its 200 day moving average is $122.24.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, hitting analysts’ consensus estimates of $1.76. The company had revenue of $531.10 million for the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period in the previous year, the business earned $1.71 earnings per share. On average, equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be given a $0.88 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is presently 60.56%.

Analyst Ratings Changes

IDA has been the topic of several research analyst reports. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. BTIG Research upgraded IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Mizuho boosted their price objective on IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company upgraded IDACORP to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.38.

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.