IDACORP, Inc. (NYSE:IDA) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 144,492 shares of the energy company’s stock after acquiring an additional 194 shares during the period. Retirement Systems of Alabama’s holdings in IDACORP were worth $14,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of IDACORP during the 3rd quarter worth about $40,000. CWM LLC boosted its stake in shares of IDACORP by 22.2% during the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after purchasing an additional 180 shares during the last quarter. Signaturefd LLC boosted its stake in shares of IDACORP by 24.2% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the energy company’s stock worth $110,000 after purchasing an additional 229 shares during the last quarter. Selway Asset Management acquired a new stake in shares of IDACORP during the 3rd quarter worth about $118,000. Finally, CENTRAL TRUST Co boosted its stake in shares of IDACORP by 371.7% during the 3rd quarter. CENTRAL TRUST Co now owns 1,269 shares of the energy company’s stock worth $119,000 after purchasing an additional 1,000 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Trading Up 1.3 %

NYSE IDA opened at $96.00 on Thursday. IDACORP, Inc. has a one year low of $86.43 and a one year high of $112.64. The company’s 50 day moving average price is $91.10 and its 200 day moving average price is $93.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.33 and a current ratio of 1.58. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 18.68 and a beta of 0.56.

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

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.46%. IDACORP’s payout ratio is 64.59%.

Analysts Set New Price Targets

IDA has been the topic of several analyst reports. StockNews.com raised shares of IDACORP to a “sell” rating in a research note on Friday, April 26th. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research note on Monday, January 22nd. Wells Fargo & Company cut their price objective on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a report on Friday, February 16th. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Morgan Stanley increased their price objective on shares of IDACORP from $92.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $93.80.

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.