New York State Common Retirement Fund Sells 22,224 Shares of IDACORP, Inc. (NYSE:IDA)

New York State Common Retirement Fund lowered its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,612 shares of the energy company's stock after selling 22,224 shares during the quarter. New York State Common Retirement Fund owned about 0.38% of IDACORP worth $21,923,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC boosted its position in IDACORP by 84.6% during the fourth quarter. Kestra Investment Management LLC now owns 4,038 shares of the energy company's stock valued at $441,000 after acquiring an additional 1,851 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of IDACORP by 4,756.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,214 shares of the energy company's stock valued at $133,000 after purchasing an additional 1,189 shares during the period. Truist Financial Corp raised its holdings in shares of IDACORP by 0.9% during the fourth quarter. Truist Financial Corp now owns 30,530 shares of the energy company's stock valued at $3,336,000 after purchasing an additional 267 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of IDACORP by 1.5% during the fourth quarter. Sanctuary Advisors LLC now owns 9,315 shares of the energy company's stock valued at $1,024,000 after purchasing an additional 137 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of IDACORP by 14.2% during the fourth quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock valued at $59,509,000 after purchasing an additional 67,568 shares during the period. Institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho upgraded shares of IDACORP from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $102.00 to $116.00 in a report on Friday, November 1st. Guggenheim upgraded shares of IDACORP from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Morgan Stanley upped their price objective on shares of IDACORP from $110.00 to $121.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Bank of America upgraded shares of IDACORP from a "neutral" rating to a "buy" rating and upped their target price for the stock from $113.00 to $117.00 in a report on Tuesday, November 5th. Finally, StockNews.com lowered shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, IDACORP presently has an average rating of "Hold" and a consensus target price of $116.20.

IDACORP Stock Performance

Shares of IDACORP stock traded up $0.24 on Monday, reaching $114.44. 320,649 shares of the company traded hands, compared to its average volume of 293,081. IDACORP, Inc. has a 52 week low of $86.47 and a 52 week high of $120.42. The company has a 50 day moving average of $109.90 and a 200 day moving average of $108.00. The firm has a market capitalization of $6.10 billion, a PE ratio of 20.88, a PEG ratio of 2.32 and a beta of 0.65. 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 (NYSE:IDA - Get Free Report) last released its 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 firm had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. Equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP's dividend payout ratio (DPR) is presently 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.