IDACORP, Inc. (NYSE:IDA) Position Lowered by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL decreased its holdings in shares of IDACORP, Inc. (NYSE:IDAGet Rating) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,000 shares of the energy company’s stock after selling 5,100 shares during the quarter. Virginia Retirement Systems ET AL owned approximately 0.37% of IDACORP worth $21,457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Destiny Wealth Partners LLC increased its stake in shares of IDACORP by 34.5% in the first quarter. Destiny Wealth Partners LLC now owns 882 shares of the energy company’s stock valued at $102,000 after purchasing an additional 226 shares during the period. Boston Trust Walden Corp increased its stake in shares of IDACORP by 6.0% in the first quarter. Boston Trust Walden Corp now owns 571,217 shares of the energy company’s stock valued at $65,895,000 after purchasing an additional 32,429 shares during the period. Fifth Third Bancorp increased its stake in shares of IDACORP by 80.1% in the first quarter. Fifth Third Bancorp now owns 4,257 shares of the energy company’s stock valued at $491,000 after purchasing an additional 1,893 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of IDACORP by 5.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,056 shares of the energy company’s stock valued at $6,317,000 after purchasing an additional 2,743 shares during the period. Finally, IFM Investors Pty Ltd acquired a new stake in shares of IDACORP in the first quarter valued at approximately $774,000. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Several equities research analysts have commented on IDA shares. Wells Fargo & Company upgraded shares of IDACORP from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $108.00 to $110.00 in a research note on Tuesday, May 3rd. Mizuho began coverage on shares of IDACORP in a report on Thursday, March 10th. They issued a “buy” rating and a $119.00 price objective for the company. Finally, StockNews.com began coverage on shares of IDACORP in a report on Thursday, March 31st. They issued a “hold” rating for the company.

IDACORP stock opened at $108.94 on Friday. The stock has a market capitalization of $5.51 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 7.39 and a beta of 0.58. IDACORP, Inc. has a 12-month low of $95.26 and a 12-month high of $118.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.87 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $105.78 and a 200-day simple moving average of $108.65.

IDACORP (NYSE:IDAGet Rating) last issued its earnings results on Thursday, May 5th. The energy company reported $0.91 earnings per share for the quarter. The firm had revenue of $344.29 million during the quarter, compared to analysts’ expectations of $306.55 million. IDACORP had a net margin of 16.62% and a return on equity of 9.28%. During the same period last year, the firm posted $0.89 earnings per share. On average, analysts forecast that IDACORP, Inc. will post 5 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Tuesday, May 3rd were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Monday, May 2nd. IDACORP’s payout ratio is 61.60%.

IDACORP Profile (Get Rating)

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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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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