Public Employees Retirement System of Ohio Sells 914 Shares of IDACORP, Inc. (NYSE:IDA)

Public Employees Retirement System of Ohio lessened its stake in IDACORP, Inc. (NYSE:IDA) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,156 shares of the energy company’s stock after selling 914 shares during the period. Public Employees Retirement System of Ohio’s holdings in IDACORP were worth $1,975,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IDA. Legacy Investment Solutions LLC bought a new stake in shares of IDACORP during the third quarter worth $25,000. Wellington Management Group LLP increased its position in IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the period. State Street Corp raised its holdings in IDACORP by 5.5% during the 3rd quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares during the last quarter. Quantinno Capital Management LP lifted its position in IDACORP by 30.8% during the 3rd quarter. Quantinno Capital Management LP now owns 12,555 shares of the energy company’s stock valued at $1,294,000 after purchasing an additional 2,956 shares during the period. Finally, Quarry LP bought a new position in shares of IDACORP in the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IDA shares. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target on the stock. Wells Fargo & Company upped their price objective on IDACORP from $106.00 to $109.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Morgan Stanley raised their target price on IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their price target for the company from $102.00 to $116.00 in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $111.00.

IDACORP Stock Down 1.1 %

Shares of IDACORP stock opened at $112.13 on Wednesday. The company has a market capitalization of $5.97 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.51 and a beta of 0.64. 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 business has a 50-day moving average of $111.11 and a two-hundred day moving average of $102.81. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $120.42.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 31st. The energy company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.05). IDACORP had a net margin of 15.35% and a return on equity of 9.17%. The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. During the same quarter in the prior year, the firm posted $2.07 earnings per share. As a group, equities analysts predict that IDACORP, Inc. will post 5.41 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 5th were given a $0.86 dividend. This is a boost from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, November 5th. IDACORP’s payout ratio is currently 63.82%.

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.