IDACORP, Inc. (NYSE:IDA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in IDACORP, Inc. (NYSE:IDA) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,000 shares of the energy company’s stock after selling 1,569 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.08% of IDACORP worth $3,809,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of IDACORP by 31.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 17,518 shares of the energy company’s stock worth $1,722,000 after purchasing an additional 4,202 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of IDACORP by 103.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 11,726 shares of the energy company’s stock worth $1,153,000 after purchasing an additional 5,969 shares during the last quarter. Trust Point Inc. purchased a new position in shares of IDACORP in the fourth quarter worth about $658,000. International Assets Investment Management LLC purchased a new position in shares of IDACORP in the fourth quarter worth about $164,000. Finally, New York State Teachers Retirement System raised its stake in shares of IDACORP by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 77,093 shares of the energy company’s stock worth $7,580,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on IDA shares. Wells Fargo & Company raised their price objective on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com upgraded IDACORP to a “sell” rating in a research report on Friday, April 26th. Morgan Stanley reduced their price target on IDACORP from $98.00 to $93.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, Mizuho lifted their price target on IDACORP from $88.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $98.00.

IDACORP Price Performance

Shares of IDACORP stock traded up $1.82 on Friday, reaching $104.13. The company’s stock had a trading volume of 614,222 shares, compared to its average volume of 320,403. The company has a market capitalization of $5.54 billion, a P/E ratio of 20.91 and a beta of 0.58. IDACORP, Inc. has a 52-week low of $86.43 and a 52-week high of $104.43. The stock has a 50-day moving average price of $94.00 and a 200-day moving average price of $92.86. The company has a quick ratio of 1.19, a current ratio of 1.54 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The business had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a return on equity of 9.38% and a net margin of 15.04%. During the same period in the previous year, the business earned $1.35 earnings per share. Analysts expect that IDACORP, Inc. will post 5.37 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, August 5th. IDACORP’s dividend payout ratio is presently 66.67%.

Insider Transactions at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $95.09, for a total value of $142,635.00. Following the sale, the vice president now directly owns 1,650 shares of the company’s stock, valued at $156,898.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

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.