Public Employees Retirement Association of Colorado Has $729,000 Stock Position in IDACORP, Inc. (NYSE:IDA)

Public Employees Retirement Association of Colorado lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,671 shares of the energy company’s stock after selling 164 shares during the period. Public Employees Retirement Association of Colorado’s holdings in IDACORP were worth $729,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of IDACORP by 90.9% during the third quarter. Barclays PLC now owns 27,184 shares of the energy company’s stock valued at $2,803,000 after acquiring an additional 12,944 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in IDACORP during the 3rd quarter worth approximately $53,000. Tidal Investments LLC raised its stake in IDACORP by 40.3% during the 3rd quarter. Tidal Investments LLC now owns 15,341 shares of the energy company’s stock valued at $1,582,000 after purchasing an additional 4,409 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of IDACORP by 1.5% in the third quarter. Retirement Systems of Alabama now owns 145,791 shares of the energy company’s stock valued at $15,030,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of IDACORP by 5.8% in the third quarter. Lord Abbett & CO. LLC now owns 231,743 shares of the energy company’s stock worth $23,890,000 after buying an additional 12,698 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IDA. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday. UBS Group boosted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $120.50.

IDACORP Stock Performance

IDA stock opened at $116.18 on Friday. The firm has a 50 day moving average of $116.06 and a two-hundred day moving average of $112.67. IDACORP, Inc. has a 12 month low of $90.64 and a 12 month high of $120.84. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 21.20, a P/E/G ratio of 2.32 and a beta of 0.56. 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 issued its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The firm had revenue of $432.46 million during the quarter, compared to analysts’ expectations of $442.24 million. During the same period in the prior year, the company posted $0.95 earnings per share. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, May 5th. IDACORP’s payout ratio is 62.77%.

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.