IDACORP, Inc. (NYSE:IDA) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its stake in IDACORP, Inc. (NYSE:IDA) by 8.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,835 shares of the energy company’s stock after selling 669 shares during the period. Public Employees Retirement Association of Colorado’s holdings in IDACORP were worth $637,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in IDA. Pitcairn Co. lifted its position in shares of IDACORP by 2.4% during the first quarter. Pitcairn Co. now owns 4,332 shares of the energy company’s stock worth $402,000 after purchasing an additional 103 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of IDACORP by 1.7% in the 2nd quarter. Raymond James Trust N.A. now owns 6,411 shares of the energy company’s stock worth $597,000 after acquiring an additional 107 shares in the last quarter. Fortem Financial Group LLC increased its holdings in shares of IDACORP by 1.2% in the 2nd quarter. Fortem Financial Group LLC now owns 9,301 shares of the energy company’s stock valued at $866,000 after acquiring an additional 112 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of IDACORP by 18.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 816 shares of the energy company’s stock valued at $77,000 after acquiring an additional 126 shares in the last quarter. Finally, Rise Advisors LLC raised its position in shares of IDACORP by 65.8% during the 2nd quarter. Rise Advisors LLC now owns 368 shares of the energy company’s stock valued at $34,000 after acquiring an additional 146 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IDA has been the subject of several recent research reports. Bank of America assumed coverage on shares of IDACORP in a research note on Thursday, September 12th. They set a “neutral” rating and a $110.00 target price for the company. Wells Fargo & Company increased their price objective on shares of IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their target price on IDACORP from $102.00 to $108.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Jefferies Financial Group started coverage on IDACORP in a research report on Friday, September 20th. They set a “hold” rating and a $110.00 price target on the stock. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, IDACORP currently has an average rating of “Hold” and an average price target of $103.57.

IDACORP Stock Performance

IDA opened at $102.65 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.17 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $101.30 and its 200-day moving average is $96.11. The stock has a market cap of $5.46 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 3.46 and a beta of 0.60. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $105.24.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.34. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. The firm had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. During the same quarter in the previous year, the business earned $1.35 EPS. On average, analysts predict that IDACORP, Inc. will post 5.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were given a $0.83 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.23%. IDACORP’s dividend payout ratio is presently 66.67%.

IDACORP Company 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.