Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $11.05 Million Position in IDACORP, Inc. (NYSE:IDA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in IDACORP, Inc. (NYSE:IDA) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,113 shares of the energy company’s stock after buying an additional 4,217 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.19% of IDACORP worth $11,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of IDACORP by 17.7% in the third quarter. Wellington Management Group LLP now owns 2,389,823 shares of the energy company’s stock valued at $246,367,000 after buying an additional 359,553 shares during the period. State Street Corp increased its stake in shares of IDACORP by 5.5% in the third quarter. State Street Corp now owns 1,656,697 shares of the energy company’s stock valued at $170,789,000 after buying an additional 86,642 shares during the period. Reaves W H & Co. Inc. increased its stake in shares of IDACORP by 75.4% in the fourth quarter. Reaves W H & Co. Inc. now owns 998,383 shares of the energy company’s stock valued at $109,103,000 after buying an additional 429,276 shares during the period. Geode Capital Management LLC increased its stake 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 valued at $97,981,000 after buying an additional 36,063 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of IDACORP by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 699,579 shares of the energy company’s stock valued at $76,450,000 after buying an additional 7,286 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $114.32 on Friday. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. IDACORP, Inc. has a 52 week low of $88.70 and a 52 week high of $120.42. 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 firm has a 50 day moving average of $112.22 and a 200-day moving average of $109.80.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 20th. The energy company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million during the quarter, compared to the consensus estimate of $403.21 million. IDACORP had a net margin of 15.83% and a return on equity of 9.23%. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Wednesday, February 5th. IDACORP’s dividend payout ratio is currently 62.77%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IDA shares. Guggenheim raised shares of IDACORP from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their target price on shares of IDACORP from $129.00 to $118.00 and set a “hold” rating for the company in a research report on Tuesday, January 28th. UBS Group increased their target price on shares of IDACORP from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America increased their target price on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Finally, Morgan Stanley increased their target price on shares of IDACORP from $126.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $120.50.

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.