Alaska Permanent Fund Corp Has $12.23 Million Stock Holdings in IDACORP, Inc. (NYSE:IDA)

Alaska Permanent Fund Corp grew its holdings in IDACORP, Inc. (NYSE:IDA) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 124,405 shares of the energy company’s stock after acquiring an additional 1,189 shares during the quarter. Alaska Permanent Fund Corp’s holdings in IDACORP were worth $12,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of IDA. SG Americas Securities LLC increased its stake in shares of IDACORP by 46.1% in the 3rd quarter. SG Americas Securities LLC now owns 19,602 shares of the energy company’s stock valued at $1,836,000 after purchasing an additional 6,185 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of IDACORP by 2.3% in the third quarter. Exchange Traded Concepts LLC now owns 6,076 shares of the energy company’s stock worth $569,000 after purchasing an additional 138 shares during the period. Boston Trust Walden Corp increased its stake in IDACORP by 4.6% in the third quarter. Boston Trust Walden Corp now owns 569,962 shares of the energy company’s stock valued at $53,377,000 after acquiring an additional 24,882 shares during the last quarter. Caprock Group LLC increased its holdings in shares of IDACORP by 2.1% in the third quarter. Caprock Group LLC now owns 6,546 shares of the energy company’s stock worth $613,000 after buying an additional 135 shares during the period. Finally, Spirit of America Management Corp NY bought a new stake in shares of IDACORP in the third quarter worth about $56,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IDA has been the topic of several research reports. Morgan Stanley lifted their price objective on IDACORP from $92.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. Mizuho decreased their price objective on shares of IDACORP from $99.00 to $88.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Wells Fargo & Company decreased their price objective on shares of IDACORP from $100.00 to $94.00 and set an “equal weight” rating for the company in a report on Friday, February 16th. Guggenheim lowered shares of IDACORP from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a research note on Monday, January 22nd. Finally, TheStreet downgraded shares of IDACORP from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $93.80.

IDACORP Stock Up 0.0 %

NYSE IDA traded up $0.03 on Thursday, hitting $94.35. 17,236 shares of the stock were exchanged, compared to its average volume of 373,639. The company has a 50-day moving average price of $90.49 and a 200-day moving average price of $94.05. IDACORP, Inc. has a fifty-two week low of $86.43 and a fifty-two week high of $112.91. The company has a quick ratio of 1.33, a current ratio of 1.58 and a debt-to-equity ratio of 0.95. The company has a market cap of $4.78 billion, a PE ratio of 18.35 and a beta of 0.56.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, February 15th. The energy company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $411.95 million during the quarter, compared to the consensus estimate of $429.84 million. IDACORP had a net margin of 14.79% and a return on equity of 9.06%. During the same period last year, the firm posted $0.83 EPS. Sell-side analysts anticipate that IDACORP, Inc. will post 5.32 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is 64.59%.

About IDACORP

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.