Public Employees Retirement System of Ohio Sells 914 Shares of IDACORP, Inc. (NYSE:IDA)

Public Employees Retirement System of Ohio reduced its holdings in IDACORP, Inc. (NYSE:IDA) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,156 shares of the energy company’s stock after selling 914 shares during the period. Public Employees Retirement System of Ohio’s holdings in IDACORP were worth $1,975,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of IDA. Legacy Investment Solutions LLC acquired a new position in IDACORP during the 3rd quarter valued at $25,000. V Square Quantitative Management LLC acquired a new position in shares of IDACORP during the third quarter valued at about $26,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of IDACORP in the second quarter valued at about $35,000. Avior Wealth Management LLC increased its stake in IDACORP by 35.9% during the third quarter. Avior Wealth Management LLC now owns 443 shares of the energy company’s stock valued at $46,000 after acquiring an additional 117 shares during the period. Finally, Eastern Bank bought a new position in IDACORP during the third quarter valued at about $52,000. 89.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on IDACORP from $106.00 to $109.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com lowered shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Mizuho raised shares of IDACORP from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $102.00 to $116.00 in a report on Friday, November 1st. Morgan Stanley lifted their target price on shares of IDACORP from $110.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Bank of America raised shares of IDACORP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $113.00 to $117.00 in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, IDACORP has a consensus rating of “Hold” and an average price target of $111.00.

IDACORP Trading Down 1.1 %

Shares of IDA stock opened at $112.13 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $5.97 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.51 and a beta of 0.64. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $120.42. The firm has a 50-day moving average price of $111.11 and a 200 day moving average price of $102.81.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 31st. The energy company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.05). The business had revenue of $528.53 million during the quarter, compared to analyst estimates of $524.39 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. During the same period in the previous year, the firm earned $2.07 earnings per share. Research analysts forecast that IDACORP, Inc. will post 5.41 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 5th were paid a $0.86 dividend. The ex-dividend date was Tuesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.83. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.07%. IDACORP’s dividend payout ratio (DPR) is 63.82%.

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.