New York State Teachers Retirement System Reduces Stock Position in IDACORP, Inc. $IDA

New York State Teachers Retirement System reduced its stake in IDACORP, Inc. (NYSE:IDA) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,293 shares of the energy company’s stock after selling 4,289 shares during the period. New York State Teachers Retirement System owned approximately 0.14% of IDACORP worth $9,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in IDACORP in the 2nd quarter worth about $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of IDACORP in the second quarter worth about $31,000. Smartleaf Asset Management LLC lifted its holdings in shares of IDACORP by 62.0% in the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after buying an additional 119 shares in the last quarter. Riverview Trust Co bought a new position in shares of IDACORP in the second quarter valued at approximately $42,000. Finally, Parkside Financial Bank & Trust grew its stake in IDACORP by 33.6% during the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after acquiring an additional 96 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on IDA shares. Mizuho increased their target price on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. UBS Group lowered their price objective on IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Wall Street Zen lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Finally, BTIG Research upgraded IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.56.

IDACORP Stock Up 1.7%

IDA opened at $132.25 on Thursday. The business’s fifty day simple moving average is $127.82 and its 200 day simple moving average is $126.92. IDACORP, Inc. has a 52 week low of $106.91 and a 52 week high of $138.03. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95. The stock has a market cap of $7.15 billion, a PE ratio of 22.72, a P/E/G ratio of 2.53 and a beta of 0.61.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The firm had revenue of $524.42 million during the quarter, compared to analysts’ expectations of $663.09 million. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.During the same period in the prior year, the business earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.