Teacher Retirement System of Texas Buys 4,305 Shares of IDACORP, Inc. (NYSE:IDA)

Teacher Retirement System of Texas boosted its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 103.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,484 shares of the energy company's stock after purchasing an additional 4,305 shares during the quarter. Teacher Retirement System of Texas' holdings in IDACORP were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of IDACORP by 43.3% in the 4th quarter. Wellington Management Group LLP now owns 3,424,956 shares of the energy company's stock valued at $374,279,000 after acquiring an additional 1,035,133 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of IDACORP in the 4th quarter valued at about $37,104,000. Ameriprise Financial Inc. raised its holdings in shares of IDACORP by 596.7% in the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after acquiring an additional 324,866 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 9.6% in the 4th 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 acquiring an additional 166,864 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of IDACORP by 13,941.6% in the 1st quarter. GAMMA Investing LLC now owns 85,654 shares of the energy company's stock valued at $99,550,000 after acquiring an additional 85,044 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

IDA has been the topic of several recent analyst reports. UBS Group raised their price target on IDACORP from $118.00 to $120.00 and gave the company a "neutral" rating in a report on Friday. Jefferies Financial Group raised IDACORP from a "hold" rating to a "buy" rating in a report on Wednesday, April 2nd. Wells Fargo & Company raised 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. Morgan Stanley set a $128.00 price objective on IDACORP and gave the company an "equal weight" rating in a report on Thursday, May 22nd. Finally, Guggenheim raised their price objective on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $122.86.

IDACORP Price Performance

IDA opened at $117.54 on Monday. The stock's 50 day simple moving average is $115.32 and its 200 day simple moving average is $114.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44. IDACORP, Inc. has a 1 year low of $93.16 and a 1 year high of $120.84. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.49 and a beta of 0.56.

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

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Monday, May 5th. IDACORP's dividend payout ratio (DPR) is currently 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.

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