Arizona State Retirement System increased its stake in IDACORP Inc (NYSE:IDA) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,986 shares of the coal producer’s stock after buying an additional 915 shares during the period. Arizona State Retirement System owned 0.07% of IDACORP worth $3,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Monarch Partners Asset Management LLC boosted its stake in shares of IDACORP by 16.6% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 177,945 shares of the coal producer’s stock worth $16,414,000 after buying an additional 25,290 shares during the last quarter. Strs Ohio boosted its stake in shares of IDACORP by 9.6% in the 2nd quarter. Strs Ohio now owns 9,100 shares of the coal producer’s stock worth $839,000 after buying an additional 800 shares during the last quarter. HL Financial Services LLC purchased a new position in shares of IDACORP in the 2nd quarter worth $203,000. Sei Investments Co. boosted its stake in shares of IDACORP by 11.4% in the 2nd quarter. Sei Investments Co. now owns 13,594 shares of the coal producer’s stock worth $1,253,000 after buying an additional 1,394 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of IDACORP in the 2nd quarter worth $1,255,000. Institutional investors own 76.57% of the company’s stock.

In related news, Director Christine King sold 2,900 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $87.21, for a total value of $252,909.00. Following the transaction, the director now directly owns 13,381 shares of the company’s stock, valued at approximately $1,166,957.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.71% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on IDA shares. ValuEngine downgraded IDACORP from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Zacks Investment Research downgraded IDACORP from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Finally, Williams Capital cut IDACORP from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a report on Monday, June 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $90.67.

Shares of IDACORP stock opened at $98.36 on Friday. IDACORP Inc has a one year low of $79.59 and a one year high of $100.04. The firm has a market capitalization of $4.87 billion, a P/E ratio of 23.38, a P/E/G ratio of 8.13 and a beta of 0.34. The company has a current ratio of 2.27, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 2nd. The coal producer reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. IDACORP had a return on equity of 10.05% and a net margin of 16.71%. The company had revenue of $339.95 million for the quarter, compared to analysts’ expectations of $328.74 million. During the same period last year, the firm earned $0.99 EPS. analysts forecast that IDACORP Inc will post 4.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 30th. Investors of record on Monday, August 6th were issued a $0.59 dividend. The ex-dividend date was Friday, August 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 2.40%. IDACORP’s dividend payout ratio is currently 56.06%.

About IDACORP

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

See Also: Short Selling

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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