California Public Employees Retirement System Has $9.19 Million Holdings in IDACORP, Inc. (NYSE:IDA)
California Public Employees Retirement System boosted its position in IDACORP, Inc. (NYSE:IDA) by 2.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 114,950 shares of the energy company’s stock after acquiring an additional 2,536 shares during the quarter. California Public Employees Retirement System’s holdings in IDACORP were worth $9,185,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. CENTRAL TRUST Co grew its position in IDACORP by 371.2% in the 3rd quarter. CENTRAL TRUST Co now owns 311 shares of the energy company’s stock worth $25,000 after purchasing an additional 245 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of IDACORP by 79.5% in the third quarter. Meeder Asset Management Inc. now owns 386 shares of the energy company’s stock valued at $31,000 after buying an additional 171 shares during the period. Nvwm LLC acquired a new position in shares of IDACORP in the second quarter valued at approximately $32,000. Whittier Trust Co. acquired a new position in shares of IDACORP in the third quarter valued at approximately $32,000. Finally, Signaturefd LLC boosted its holdings in shares of IDACORP by 51.0% in the second quarter. Signaturefd LLC now owns 515 shares of the energy company’s stock valued at $45,000 after buying an additional 174 shares during the period. Institutional investors own 77.16% of the company’s stock.
A number of analysts have recently commented on the stock. Sidoti cut their price objective on shares of IDACORP from $108.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, September 21st. TheStreet raised shares of IDACORP from a “c+” rating to a “b” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $102.60.
IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 29th. The energy company reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.10. IDACORP had a net margin of 18.60% and a return on equity of 9.86%. During the same quarter last year, the company earned $1.78 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 4.6 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 5th will be paid a $0.71 dividend. The ex-dividend date is Wednesday, November 4th. This is an increase from IDACORP’s previous quarterly dividend of $0.67. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. IDACORP’s dividend payout ratio is 61.61%.
In related news, SVP Jeffrey L. Malmen sold 1,300 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $81.70, for a total value of $106,210.00. Corporate insiders own 0.53% of the company’s stock.
IDACORP, Inc 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 three coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
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