New York State Teachers Retirement System lowered its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,582 shares of the energy company's stock after selling 4,434 shares during the quarter. New York State Teachers Retirement System owned 0.15% of IDACORP worth $8,478,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in IDA. M&T Bank Corp boosted its stake in shares of IDACORP by 0.8% in the 3rd quarter. M&T Bank Corp now owns 10,992 shares of the energy company's stock worth $1,133,000 after buying an additional 92 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in IDACORP by 13.7% in 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 during the period. Blue Trust Inc. boosted its position in IDACORP by 7.5% in the third quarter. Blue Trust Inc. now owns 1,523 shares of the energy company's stock worth $157,000 after purchasing an additional 106 shares during the last quarter. Pitcairn Co. grew its stake in shares of 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 during the period. Finally, Perigon Wealth Management LLC grew its stake in shares of IDACORP by 4.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,827 shares of the energy company's stock valued at $311,000 after purchasing an additional 112 shares during the period. Institutional investors own 89.10% of the company's stock.
IDACORP Price Performance
Shares of NYSE IDA traded up $1.26 during midday trading on Friday, reaching $113.98. The stock had a trading volume of 419,035 shares, compared to its average volume of 292,263. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. IDACORP, Inc. has a 12-month low of $86.47 and a 12-month high of $120.42. The stock has a 50-day moving average of $109.88 and a 200-day moving average of $107.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70.
IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. As a group, research analysts anticipate that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.
IDACORP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP's dividend payout ratio is currently 63.82%.
Wall Street Analyst Weigh In
IDA has been the topic of a number of research reports. Jefferies Financial Group dropped their price objective on shares of IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. Morgan Stanley lifted their price target on shares of IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Mizuho raised shares of IDACORP from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $102.00 to $116.00 in a research report on Friday, November 1st. StockNews.com cut IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Bank of America upgraded IDACORP from a "neutral" rating to a "buy" rating and lifted their target price for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $116.20.
Read Our Latest Research Report on IDA
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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