IDACORP, Inc. (NYSE:IDA) Shares Sold by Louisiana State Employees Retirement System

Posted by on Jul 5th, 2023

Louisiana State Employees Retirement System cut its stake in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 0.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,400 shares of the energy company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in IDACORP were worth $1,452,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hennion & Walsh Asset Management Inc. increased its position in shares of IDACORP by 21.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 7,538 shares of the energy company’s stock valued at $813,000 after acquiring an additional 1,347 shares during the last quarter. Palisade Capital Management LLC NJ boosted its stake in shares of IDACORP by 7.1% in the third quarter. Palisade Capital Management LLC NJ now owns 527,116 shares of the energy company’s stock valued at $52,190,000 after purchasing an additional 35,172 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of IDACORP by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 946 shares of the energy company’s stock valued at $102,000 after purchasing an additional 336 shares in the last quarter. Signaturefd LLC grew its holdings in shares of IDACORP by 46.8% in the fourth quarter. Signaturefd LLC now owns 769 shares of the energy company’s stock valued at $83,000 after purchasing an additional 245 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of IDACORP by 1.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 81,121 shares of the energy company’s stock valued at $8,749,000 after purchasing an additional 1,104 shares in the last quarter. 81.03% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 0.4 %

NYSE IDA opened at $103.06 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. IDACORP, Inc. has a 52 week low of $93.53 and a 52 week high of $115.92. The stock has a market capitalization of $5.22 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 5.50 and a beta of 0.60. The firm has a 50 day moving average of $106.11 and a two-hundred day moving average of $106.33.

IDACORP (NYSE:IDA – Free Report) last posted its quarterly earnings results on Thursday, May 4th. The energy company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.95 by $0.16. IDACORP had a net margin of 15.54% and a return on equity of 9.65%. The company had revenue of $429.66 million during the quarter, compared to analysts’ expectations of $346.62 million. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, research analysts expect that IDACORP, Inc. will post 5.07 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 3rd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Tuesday, May 2nd. IDACORP’s payout ratio is 59.51%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of IDACORP in a report on Thursday, May 18th. They issued a “sell” rating for the company. 1-800-FLOWERS.COM restated a “maintains” rating on shares of IDACORP in a report on Friday, May 5th. Finally, Mizuho cut shares of IDACORP from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $117.00 to $107.00 in a report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $106.67.

About IDACORP

(Free Report)

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.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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