Texas Permanent School Fund Corp Increases Stock Position in IDACORP, Inc. (NYSE:IDA)

Texas Permanent School Fund Corp lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 1.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 44,189 shares of the energy company’s stock after acquiring an additional 465 shares during the quarter. Texas Permanent School Fund Corp’s holdings in IDACORP were worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in shares of IDACORP during the 1st quarter valued at approximately $41,000. Northwest Financial Advisors bought a new stake in IDACORP during the 4th quarter worth approximately $52,000. Kapitalo Investimentos Ltda bought a new stake in IDACORP during the 4th quarter worth approximately $54,000. EverSource Wealth Advisors LLC increased its holdings in IDACORP by 19.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock worth $68,000 after acquiring an additional 112 shares during the period. Finally, CWM LLC increased its holdings in IDACORP by 22.2% during the 4th quarter. CWM LLC now owns 992 shares of the energy company’s stock worth $98,000 after acquiring an additional 180 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IDA. Morgan Stanley decreased their price target on shares of IDACORP from $98.00 to $93.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. StockNews.com raised shares of IDACORP to a “sell” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of IDACORP from $94.00 to $98.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, Mizuho increased their price target on shares of IDACORP from $88.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.40.

IDACORP Price Performance

IDA stock opened at $94.83 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.19 and a current ratio of 1.54. IDACORP, Inc. has a 52 week low of $86.43 and a 52 week high of $106.33. The firm’s fifty day moving average is $94.11 and its 200 day moving average is $92.90. The firm has a market cap of $5.05 billion, a P/E ratio of 19.04 and a beta of 0.58.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, May 2nd. The energy company reported $0.95 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.06). IDACORP had a net margin of 14.18% and a return on equity of 8.71%. The business had revenue of $448.94 million for the quarter, compared to the consensus estimate of $441.21 million. During the same period in the prior year, the business posted $1.11 EPS. Research analysts predict that IDACORP, Inc. will post 5.36 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $3.32 annualized dividend and a yield of 3.50%. IDACORP’s payout ratio is currently 66.67%.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $95.09, for a total transaction of $142,635.00. Following the completion of the sale, the vice president now owns 1,650 shares of the company’s stock, valued at approximately $156,898.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

IDACORP Company Profile

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.