IDACORP, Inc. (NYSE:IDA) Stock Holdings Lifted by Utah Retirement Systems

Utah Retirement Systems lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,900 shares of the energy company’s stock after buying an additional 200 shares during the period. Utah Retirement Systems’ holdings in IDACORP were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of IDACORP by 98.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 242 shares of the energy company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Versant Capital Management Inc grew its stake in IDACORP by 2,150.0% during the 4th quarter. Versant Capital Management Inc now owns 315 shares of the energy company’s stock worth $34,000 after buying an additional 301 shares during the last quarter. Independence Bank of Kentucky increased its position in IDACORP by 123.6% in the fourth quarter. Independence Bank of Kentucky now owns 407 shares of the energy company’s stock worth $44,000 after buying an additional 225 shares during the period. Proficio Capital Partners LLC bought a new stake in IDACORP in the fourth quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in IDACORP in the third quarter valued at $53,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of IDACORP from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Morgan Stanley lifted their price target on IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Guggenheim increased their price objective on IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company lifted their target price on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $123.57.

IDACORP Price Performance

Shares of NYSE:IDA opened at $117.43 on Friday. The company has a market capitalization of $6.34 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a fifty day moving average of $116.09 and a 200-day moving average of $112.83. IDACORP, Inc. has a one year low of $90.64 and a one year high of $120.84.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.83%. The firm had revenue of $432.46 million for the quarter, compared to the consensus estimate of $442.24 million. During the same quarter in the previous year, the company earned $0.95 EPS. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 5th will be given a $0.86 dividend. The ex-dividend date is Monday, May 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.93%. IDACORP’s dividend payout ratio (DPR) is presently 62.77%.

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.