Retirement Systems of Alabama Boosts Stake in IDACORP, Inc. (NYSE:IDA)

Retirement Systems of Alabama grew its stake in IDACORP, Inc. (NYSE:IDA) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 144,492 shares of the energy company’s stock after buying an additional 194 shares during the period. Retirement Systems of Alabama owned 0.29% of IDACORP worth $14,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of IDACORP in the third quarter worth $40,000. CWM LLC raised its holdings in shares of IDACORP by 22.2% during the fourth 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 raised its holdings in shares of IDACORP by 24.2% during the third 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 purchased a new position in shares of IDACORP during the third quarter worth $118,000. Finally, CENTRAL TRUST Co raised its holdings in shares of IDACORP by 371.7% during the third 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. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Guggenheim cut shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, January 22nd. Morgan Stanley raised their target price 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. Mizuho reduced their target price on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. TheStreet lowered shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Finally, Wells Fargo & Company dropped their price target on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat, IDACORP has a consensus rating of “Hold” and a consensus target price of $93.80.

IDACORP Stock Up 1.3 %

IDA stock opened at $96.00 on Thursday. The firm has a market cap of $4.87 billion, a PE ratio of 18.68 and a beta of 0.56. 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 $91.10 and its 200 day moving average is $93.97. IDACORP, Inc. has a one year low of $86.43 and a one year high of $112.64.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share (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 business had revenue of $411.95 million for the quarter, compared to analyst estimates of $429.84 million. During the same quarter last year, the business earned $0.83 earnings per share. On average, research analysts forecast that IDACORP, Inc. will post 5.32 EPS for the current year.

IDACORP Announces Dividend

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

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.