Strs Ohio Decreases Holdings in IDACORP, Inc. (NYSE:IDA)

Strs Ohio cut its stake in shares of IDACORP, Inc. (NYSE:IDA) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 86,995 shares of the energy company’s stock after selling 5,199 shares during the period. Strs Ohio’s holdings in IDACORP were worth $8,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in IDACORP during the 4th quarter worth $277,000. Louisiana State Employees Retirement System purchased a new position in shares of IDACORP during the 4th quarter valued at approximately $1,396,000. Cerity Partners LLC increased its stake in shares of IDACORP by 85.5% in the fourth quarter. Cerity Partners LLC now owns 4,530 shares of the energy company’s stock worth $446,000 after buying an additional 2,088 shares during the last quarter. Custom Index Systems LLC bought a new stake in shares of IDACORP in the fourth quarter worth $503,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in IDACORP by 74.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 246,072 shares of the energy company’s stock valued at $24,194,000 after acquiring an additional 105,272 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research note on Monday, January 22nd. Mizuho decreased their target price on IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Morgan Stanley raised their price objective on IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Wells Fargo & Company reduced their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $93.80.

IDACORP Stock Up 1.4 %

Shares of IDACORP stock opened at $90.37 on Thursday. The company has a market capitalization of $4.58 billion, a P/E ratio of 17.58 and a beta of 0.56. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.58 and a quick ratio of 1.33. IDACORP, Inc. has a 1-year low of $86.43 and a 1-year high of $112.96. The business’s fifty day moving average price is $90.08 and its two-hundred day moving average price is $94.02.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. IDACORP had a return on equity of 9.06% and a net margin of 14.79%. The firm had revenue of $411.95 million during the quarter, compared to analyst estimates of $429.84 million. During the same period last year, the company posted $0.83 EPS. As a group, research analysts forecast that IDACORP, Inc. will post 5.32 EPS for the current year.

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.