California Public Employees Retirement System Sells 3,039 Shares of IDACORP, Inc. (NYSE:IDA)

California Public Employees Retirement System lowered its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,618 shares of the energy company’s stock after selling 3,039 shares during the period. California Public Employees Retirement System owned approximately 0.52% of IDACORP worth $25,722,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its stake in IDACORP by 297.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 35,572 shares of the energy company’s stock worth $3,332,000 after acquiring an additional 26,626 shares in the last quarter. Trexquant Investment LP boosted its stake in IDACORP by 545.1% during the third quarter. Trexquant Investment LP now owns 48,869 shares of the energy company’s stock worth $4,577,000 after acquiring an additional 41,293 shares in the last quarter. Invesco Ltd. boosted its stake in IDACORP by 10.3% during the third quarter. Invesco Ltd. now owns 278,698 shares of the energy company’s stock worth $26,100,000 after acquiring an additional 26,068 shares in the last quarter. William Blair Investment Management LLC boosted its stake in IDACORP by 10.8% during the third quarter. William Blair Investment Management LLC now owns 466,661 shares of the energy company’s stock worth $43,703,000 after acquiring an additional 45,585 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its stake in IDACORP by 216.8% during the third quarter. Gotham Asset Management LLC now owns 12,251 shares of the energy company’s stock worth $1,147,000 after acquiring an additional 8,384 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IDA. Wells Fargo & Company dropped their target price on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Friday, February 16th. StockNews.com upgraded shares of IDACORP to a “sell” rating in a research note on Friday. Guggenheim downgraded 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. TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Mizuho dropped their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $93.80.

IDACORP Stock Down 0.1 %

IDA opened at $94.60 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average price of $90.86 and a 200-day moving average price of $94.02. IDACORP, Inc. has a twelve month low of $86.43 and a twelve month high of $112.91. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 18.40 and a beta of 0.56.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 15th. The energy company reported $0.61 earnings per share 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 during the quarter, compared to analysts’ expectations of $429.84 million. During the same period in the previous year, the company earned $0.83 earnings per share. Equities research analysts forecast that IDACORP, Inc. will post 5.32 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.32 dividend on an annualized basis and a yield of 3.51%. IDACORP’s dividend payout ratio is currently 64.59%.

About IDACORP

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.