New York State Common Retirement Fund Trims Stock Position in IDACORP, Inc. (NYSE:IDA)

New York State Common Retirement Fund lessened its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,141 shares of the energy company's stock after selling 9,471 shares during the quarter. New York State Common Retirement Fund owned about 0.35% of IDACORP worth $22,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDA. Vanguard Group Inc. lifted its holdings in shares of IDACORP by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company's stock worth $660,786,000 after acquiring an additional 77,230 shares during the period. Wellington Management Group LLP lifted its stake in IDACORP by 43.3% in the fourth quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after buying an additional 1,035,133 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in IDACORP by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock valued at $208,692,000 after buying an additional 166,864 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in IDACORP by 2.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,379,408 shares of the energy company's stock worth $150,742,000 after purchasing an additional 29,094 shares during the period. Finally, Geode Capital Management LLC raised its position in IDACORP by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 954,035 shares of the energy company's stock worth $104,288,000 after acquiring an additional 3,829 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Trading Up 1.1%

Shares of IDACORP stock traded up $1.25 on Friday, hitting $120.18. 465,282 shares of the company traded hands, compared to its average volume of 373,609. The stock's 50 day moving average price is $115.64 and its 200-day moving average price is $114.26. The company has a current ratio of 1.81, a quick ratio of 1.44 and a debt-to-equity ratio of 1.03. IDACORP, Inc. has a 52 week low of $93.57 and a 52 week high of $120.84. The company has a market cap of $6.49 billion, a PE ratio of 21.35, a PEG ratio of 2.52 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.07. The company had revenue of $432.46 million during the quarter, compared to the consensus estimate of $442.24 million. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Equities research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be paid a $0.86 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.86%. IDACORP's payout ratio is 61.10%.

Analyst Upgrades and Downgrades

IDA has been the subject of a number of research analyst reports. Morgan Stanley set a $128.00 price target on IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. UBS Group restated a "neutral" rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company lifted their price objective on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.86.

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.