California State Teachers Retirement System lowered its stake in IDACORP Inc (NYSE:IDA) by 9.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,896 shares of the coal producer’s stock after selling 8,706 shares during the period. California State Teachers Retirement System owned 0.16% of IDACORP worth $7,113,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of IDA. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IDACORP by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after buying an additional 224 shares during the last quarter. Advisor Group Inc. increased its stake in IDACORP by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock valued at $156,000 after buying an additional 111 shares during the last quarter. Riverhead Capital Management LLC increased its stake in IDACORP by 77.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock valued at $182,000 after buying an additional 930 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in IDACORP in the 2nd quarter valued at $200,000. Finally, Bienville Capital Management LLC acquired a new stake in IDACORP in the 2nd quarter valued at $205,000. 75.51% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on IDA. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research lowered shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. KeyCorp reiterated a “hold” rating on shares of IDACORP in a research note on Friday, October 20th. Finally, Bank of America started coverage on shares of IDACORP in a research note on Tuesday, January 9th. They issued an “underperform” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. IDACORP presently has a consensus rating of “Hold” and a consensus price target of $91.00.
Shares of IDACORP Inc (NYSE:IDA) opened at $83.32 on Friday. IDACORP Inc has a twelve month low of $78.05 and a twelve month high of $100.04. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78. The stock has a market cap of $4,200.00, a PE ratio of 20.32, a price-to-earnings-growth ratio of 4.92 and a beta of 0.55.
IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.14. IDACORP had a net margin of 15.46% and a return on equity of 9.44%. The company had revenue of $408.32 million during the quarter. During the same period last year, the company posted $1.65 EPS. equities research analysts expect that IDACORP Inc will post 4.11 earnings per share for the current fiscal year.
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IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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