Teacher Retirement System of Texas Increases Position in IDACORP, Inc. (NYSE:IDA)

Teacher Retirement System of Texas lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 103.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,484 shares of the energy company's stock after buying an additional 4,305 shares during the period. Teacher Retirement System of Texas' holdings in IDACORP were worth $986,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IDA. Opal Wealth Advisors LLC acquired a new stake in shares of IDACORP during the first quarter worth about $34,000. Proficio Capital Partners LLC acquired a new stake in shares of IDACORP during the fourth quarter worth about $45,000. Farther Finance Advisors LLC boosted its stake in shares of IDACORP by 879.1% during the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after buying an additional 378 shares during the period. Versant Capital Management Inc boosted its stake in shares of IDACORP by 39.7% during the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after buying an additional 125 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of IDACORP by 1,333.3% in the fourth quarter. Jones Financial Companies Lllp now owns 516 shares of the energy company's stock valued at $56,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IDA shares. UBS Group reaffirmed a "neutral" rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Guggenheim lifted their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company lifted their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group raised shares of IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $122.86.

IDACORP Price Performance

IDA stock traded up $0.45 during trading on Thursday, reaching $119.05. 411,879 shares of the company were exchanged, compared to its average volume of 372,546. The company has a market cap of $6.43 billion, a P/E ratio of 21.15, a PEG ratio of 2.51 and a beta of 0.56. IDACORP, Inc. has a 52-week low of $93.57 and a 52-week high of $120.84. The stock's 50 day moving average price is $115.54 and its 200 day moving average price is $114.19. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. The business had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.89%. IDACORP's dividend payout ratio is presently 61.10%.

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.