Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,113 shares of the energy company's stock after acquiring an additional 4,217 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.19% of IDACORP worth $11,050,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. M&T Bank Corp raised its holdings in IDACORP by 0.8% during the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock valued at $1,133,000 after buying an additional 92 shares during the period. AMG National Trust Bank increased its stake in IDACORP by 0.6% in the 4th quarter. AMG National Trust Bank now owns 15,248 shares of the energy company's stock worth $1,670,000 after buying an additional 98 shares during the period. CENTRAL TRUST Co raised its stake in shares of IDACORP by 13.7% during the fourth quarter. CENTRAL TRUST Co now owns 832 shares of the energy company's stock valued at $91,000 after acquiring an additional 100 shares in the last quarter. Pitcairn Co. raised its position in IDACORP by 2.3% during the 3rd quarter. Pitcairn Co. now owns 4,801 shares of the energy company's stock valued at $495,000 after purchasing an additional 107 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in shares of IDACORP by 4.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock worth $311,000 after buying an additional 112 shares during the period. 89.10% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

IDA has been the subject of several recent research reports. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group lowered their price target on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating for the company in a research report on Tuesday, January 28th. UBS Group lifted their price objective on shares of IDACORP from $117.00 to $122.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Morgan Stanley upped their target price on IDACORP from $126.00 to $131.00 and gave the stock an "equal weight" rating in a report on Thursday, March 20th. Finally, Bank of America raised their price objective on IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $120.50.

IDACORP Stock Up 1.3 %

Shares of IDA stock traded up $1.41 during trading hours on Wednesday, reaching $113.50. 327,672 shares of the company's stock were exchanged, compared to its average volume of 315,142. IDACORP, Inc. has a fifty-two week low of $88.70 and a fifty-two week high of $120.42. The stock's 50 day moving average is $112.50 and its 200-day moving average is $110.01. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 2.32 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analyst estimates of $403.21 million. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. Analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP's payout ratio is currently 62.77%.

About IDACORP

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.