New York State Teachers Retirement System Has $8.98 Million Holdings in IDACORP, Inc. (NYSE:IDA)

New York State Teachers Retirement System cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,282 shares of the energy company’s stock after selling 300 shares during the quarter. New York State Teachers Retirement System owned about 0.14% of IDACORP worth $8,982,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IDA. Wellington Management Group LLP lifted its holdings in shares of IDACORP by 43.3% during the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company’s stock worth $374,279,000 after buying an additional 1,035,133 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of IDACORP during the fourth quarter worth approximately $37,104,000. Ameriprise Financial Inc. lifted its holdings in shares of IDACORP by 596.7% during the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company’s stock worth $41,451,000 after buying an additional 324,866 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of IDACORP by 9.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock worth $208,692,000 after buying an additional 166,864 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of IDACORP by 13,941.6% during the first quarter. GAMMA Investing LLC now owns 85,654 shares of the energy company’s stock worth $99,550,000 after buying an additional 85,044 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley set a $128.00 price target on IDACORP and gave the stock an “equal weight” rating in a report on Thursday, May 22nd. Wells Fargo & Company upped their price target on IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Guggenheim upped their price target on IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Wall Street Zen lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, UBS Group cut their target price on IDACORP from $121.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, June 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.86.

IDACORP Stock Performance

Shares of NYSE IDA opened at $115.99 on Friday. The business has a fifty day simple moving average of $115.36 and a 200 day simple moving average of $113.69. The company has a current ratio of 1.81, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.46 and a beta of 0.56. IDACORP, Inc. has a one year low of $91.77 and a one year high of $120.84.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. IDACORP had a return on equity of 9.13% and a net margin of 16.61%. The business had revenue of $432.46 million during the quarter, compared to analyst estimates of $442.24 million. During the same period in the prior year, the company posted $0.95 earnings per share. Sell-side analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Monday, May 5th. IDACORP’s payout ratio is 61.10%.

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.