State of New Jersey Common Pension Fund D Sells 11,374 Shares of IDACORP, Inc. (NYSE:IDA)

State of New Jersey Common Pension Fund D lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 36.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,109 shares of the energy company’s stock after selling 11,374 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in IDACORP were worth $1,873,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of IDACORP by 10.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 649,195 shares of the energy company’s stock valued at $63,829,000 after acquiring an additional 61,546 shares during the period. D.A. Davidson & CO. lifted its holdings in IDACORP by 16.6% during the 4th quarter. D.A. Davidson & CO. now owns 3,660 shares of the energy company’s stock valued at $360,000 after purchasing an additional 521 shares during the last quarter. Franklin Resources Inc. lifted its holdings in IDACORP by 13.6% during the 4th quarter. Franklin Resources Inc. now owns 344,823 shares of the energy company’s stock valued at $33,903,000 after purchasing an additional 41,168 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in IDACORP by 19.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 690 shares of the energy company’s stock valued at $68,000 after buying an additional 112 shares in the last quarter. Finally, US Bancorp DE grew its stake in IDACORP by 53.0% during the fourth quarter. US Bancorp DE now owns 23,497 shares of the energy company’s stock worth $2,310,000 after buying an additional 8,139 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Down 0.2 %

Shares of IDA opened at $102.22 on Monday. The stock’s fifty day simple moving average is $100.80 and its 200-day simple moving average is $95.87. The firm has a market capitalization of $5.44 billion, a PE ratio of 20.53 and a beta of 0.60. IDACORP, Inc. has a 12-month low of $86.43 and a 12-month high of $105.24. The company has a quick ratio of 1.17, a current ratio of 1.55 and a debt-to-equity ratio of 0.87.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. The firm had revenue of $451.04 million during the quarter, compared to analysts’ expectations of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period in the previous year, the business posted $1.35 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.41 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 5th were paid a $0.83 dividend. The ex-dividend date was Monday, August 5th. This represents a $3.32 dividend on an annualized basis and a yield of 3.25%. IDACORP’s payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IDA shares. Jefferies Financial Group started coverage on shares of IDACORP in a research note on Friday. They issued a “hold” rating and a $110.00 target price for the company. Bank of America initiated coverage on IDACORP in a research report on Thursday, September 12th. They issued a “neutral” rating and a $110.00 price objective for the company. Wells Fargo & Company increased their target price on IDACORP from $98.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Morgan Stanley lifted their price target on IDACORP from $94.00 to $102.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, IDACORP has a consensus rating of “Hold” and a consensus price target of $102.71.

IDACORP 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.