New York State Teachers Retirement System Sells 4,434 Shares of IDACORP, Inc. (NYSE:IDA)

New York State Teachers Retirement System cut its holdings in IDACORP, Inc. (NYSE:IDA) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,582 shares of the energy company’s stock after selling 4,434 shares during the quarter. New York State Teachers Retirement System owned about 0.15% of IDACORP worth $8,478,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of IDACORP by 17.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock worth $246,367,000 after purchasing an additional 359,553 shares during the last quarter. State Street Corp boosted its position in shares of IDACORP by 5.5% during the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock worth $170,789,000 after purchasing an additional 86,642 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of IDACORP by 3,692.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 64,655 shares of the energy company’s stock valued at $7,014,000 after buying an additional 62,950 shares during the period. Geode Capital Management LLC increased its holdings in shares of IDACORP by 3.9% in the third quarter. Geode Capital Management LLC now owns 950,206 shares of the energy company’s stock worth $97,981,000 after acquiring an additional 36,063 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in IDACORP by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 692,293 shares of the energy company’s stock valued at $71,368,000 after buying an additional 35,651 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of NYSE:IDA opened at $110.47 on Wednesday. The company’s 50 day simple moving average is $109.90 and its 200 day simple moving average is $107.75. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.70 and a quick ratio of 1.34. IDACORP, Inc. has a 1 year low of $86.47 and a 1 year high of $120.42. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 2.28 and a beta of 0.65.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Wednesday, February 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 63.82%.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of recent research reports. Guggenheim raised IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Bank of America raised IDACORP from a “neutral” rating to a “buy” rating and raised their price objective for the company from $113.00 to $117.00 in a research report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of IDACORP from $110.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho raised IDACORP from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $102.00 to $116.00 in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.20.

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.