Illinois Municipal Retirement Fund grew its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 58.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,421 shares of the energy company's stock after purchasing an additional 3,468 shares during the period. Illinois Municipal Retirement Fund's holdings in IDACORP were worth $1,030,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in IDACORP by 7.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,156 shares of the energy company's stock worth $532,000 after buying an additional 372 shares during the period. New York State Teachers Retirement System boosted its position in shares of IDACORP by 6.1% in the third quarter. New York State Teachers Retirement System now owns 82,016 shares of the energy company's stock worth $8,455,000 after acquiring an additional 4,723 shares during the last quarter. US Bancorp DE increased its position in IDACORP by 4.8% during the third quarter. US Bancorp DE now owns 24,680 shares of the energy company's stock worth $2,544,000 after purchasing an additional 1,136 shares during the last quarter. James Investment Research Inc. raised its stake in IDACORP by 11.4% during the third quarter. James Investment Research Inc. now owns 4,208 shares of the energy company's stock worth $434,000 after purchasing an additional 430 shares during the period. Finally, F M Investments LLC boosted its holdings in shares of IDACORP by 39.1% in the 3rd quarter. F M Investments LLC now owns 78,192 shares of the energy company's stock valued at $8,061,000 after purchasing an additional 21,980 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.
IDACORP Stock Down 1.5 %
IDACORP stock traded down $1.71 during midday trading on Thursday, hitting $111.93. 63,167 shares of the company were exchanged, compared to its average volume of 304,033. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a fifty-two week low of $88.67 and a fifty-two week high of $120.42. The company's fifty day moving average price is $110.72 and its 200-day moving average price is $108.71. The company has a market cap of $6.04 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65.
IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.07. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. The business had revenue of $398.13 million during the quarter, compared to analyst estimates of $403.21 million. On average, research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.
IDACORP Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $3.44 annualized dividend and a yield of 3.07%. IDACORP's payout ratio is 62.77%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on IDA shares. Morgan Stanley upped their price objective on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Guggenheim upgraded IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group reduced their price objective on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. StockNews.com downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Finally, Bank of America lifted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a "buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $118.20.
Check Out Our Latest Research Report on IDACORP
IDACORP Company Profile
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Free Report)
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.
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