IDACORP, Inc. (NYSE:IDA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,560 shares of the energy company’s stock after selling 440 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in IDACORP were worth $4,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in shares of IDACORP in the 3rd quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in IDACORP in the third quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of IDACORP in the second quarter valued at $35,000. Avior Wealth Management LLC lifted its position in shares of IDACORP by 35.9% during the 3rd quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of IDACORP during the 3rd quarter valued at $52,000. 89.10% of the stock is currently owned by institutional investors.

IDACORP Price Performance

Shares of IDA opened at $113.06 on Friday. The business’s 50-day moving average is $110.64 and its 200-day moving average is $102.42. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 20.98, a P/E/G ratio of 2.51 and a beta of 0.64. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $120.42.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.05). The company had revenue of $528.53 million for the quarter, compared to analysts’ expectations of $524.39 million. IDACORP had a net margin of 15.35% and a return on equity of 9.17%. During the same period in the previous year, the firm posted $2.07 earnings per share. Equities research analysts expect that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 5th were paid a $0.86 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $3.44 dividend on an annualized basis and a yield of 3.04%. This is an increase from IDACORP’s previous quarterly dividend of $0.83. IDACORP’s payout ratio is 63.82%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group initiated coverage on IDACORP in a report on Friday, September 20th. They issued a “hold” rating and a $110.00 target price on the stock. Morgan Stanley lifted their price target on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday. Wells Fargo & Company upped their price objective on shares of IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Mizuho upgraded shares of IDACORP from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $102.00 to $116.00 in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $111.00.

IDACORP 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.