New York State Common Retirement Fund lessened its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 10.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 200,612 shares of the energy company's stock after selling 22,224 shares during the quarter. New York State Common Retirement Fund owned approximately 0.38% of IDACORP worth $21,923,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC increased its position in shares of IDACORP by 84.6% during the fourth quarter. Kestra Investment Management LLC now owns 4,038 shares of the energy company's stock worth $441,000 after buying an additional 1,851 shares during the period. Venturi Wealth Management LLC grew its holdings in IDACORP by 4,756.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,214 shares of the energy company's stock worth $133,000 after acquiring an additional 1,189 shares during the period. Truist Financial Corp boosted its holdings in shares of IDACORP by 0.9% during the 4th quarter. Truist Financial Corp now owns 30,530 shares of the energy company's stock worth $3,336,000 after buying an additional 267 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of IDACORP by 1.5% in the 4th quarter. Sanctuary Advisors LLC now owns 9,315 shares of the energy company's stock valued at $1,024,000 after acquiring an additional 137 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of IDACORP by 14.2% during the 4th quarter. Principal Financial Group Inc. now owns 544,552 shares of the energy company's stock valued at $59,509,000 after acquiring an additional 67,568 shares during the period. Institutional investors own 89.10% of the company's stock.
A number of equities research analysts have commented on IDA shares. StockNews.com cut shares of IDACORP from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Mizuho upgraded IDACORP from a "neutral" rating to an "outperform" rating and raised their target price for the company from $102.00 to $116.00 in a research note on Friday, November 1st. Jefferies Financial Group dropped their price target on IDACORP from $129.00 to $118.00 and set a "hold" rating on the stock in a research note on Tuesday, January 28th. Guggenheim raised IDACORP from a "neutral" rating to a "buy" rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley upped their target price on IDACORP from $110.00 to $121.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $116.20.
Check Out Our Latest Stock Analysis on IDACORP
IDA stock opened at $113.98 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.70. The business has a 50-day simple moving average of $109.90 and a two-hundred day simple moving average of $107.91. The company has a market capitalization of $6.07 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.29 and a beta of 0.65. IDACORP, Inc. has a 52-week low of $86.47 and a 52-week high of $120.42.
IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, February 20th. The energy company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $398.13 million for the quarter, compared to analysts' expectations of $403.21 million. IDACORP had a return on equity of 9.17% and a net margin of 15.35%. Research analysts expect that IDACORP, Inc. will post 5.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th will be issued a $0.86 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $3.44 annualized dividend and a dividend yield of 3.02%. IDACORP's dividend payout ratio is currently 63.82%.
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.
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