Strs Ohio Sells 5,199 Shares of IDACORP, Inc. (NYSE:IDA)

Strs Ohio cut its holdings in IDACORP, Inc. (NYSE:IDA) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,995 shares of the energy company’s stock after selling 5,199 shares during the period. Strs Ohio owned 0.17% of IDACORP worth $8,553,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Chilton Capital Management LLC bought a new position in IDACORP in the 1st quarter worth $25,000. Headlands Technologies LLC bought a new position in shares of IDACORP in the third quarter worth about $40,000. State of Wyoming lifted its position in shares of IDACORP by 34.4% during the 2nd quarter. State of Wyoming now owns 426 shares of the energy company’s stock valued at $44,000 after buying an additional 109 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of IDACORP by 33.8% during the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after acquiring an additional 101 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of IDACORP during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of NYSE IDA opened at $90.37 on Thursday. The company has a market cap of $4.58 billion, a P/E ratio of 17.58 and a beta of 0.56. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $112.96. 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’s fifty day moving average is $90.08 and its two-hundred day moving average is $94.02.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Guggenheim cut 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. Morgan Stanley lifted their target price on shares of IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Wells Fargo & Company dropped their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. Mizuho decreased their price target on IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. Finally, TheStreet lowered IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.