State of Alaska Department of Revenue reduced its holdings in IDACORP Inc (NYSE:IDA) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,285 shares of the coal producer’s stock after selling 674 shares during the quarter. State of Alaska Department of Revenue’s holdings in IDACORP were worth $884,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Millennium Management LLC increased its holdings in shares of IDACORP by 779.1% in the third quarter. Millennium Management LLC now owns 300,753 shares of the coal producer’s stock worth $33,885,000 after acquiring an additional 266,543 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of IDACORP by 53.3% in the third quarter. Squarepoint Ops LLC now owns 115,275 shares of the coal producer’s stock worth $12,988,000 after acquiring an additional 40,091 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in shares of IDACORP during the third quarter worth about $273,000. Barclays PLC grew its holdings in shares of IDACORP by 41.0% during the third quarter. Barclays PLC now owns 195,664 shares of the coal producer’s stock worth $22,044,000 after buying an additional 56,906 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new position in shares of IDACORP during the third quarter worth about $67,000. Institutional investors own 76.38% of the company’s stock.
IDA stock opened at $109.12 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.08 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $106.02 and a two-hundred day moving average price of $106.69. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 26.04, a P/E/G ratio of 9.53 and a beta of 0.18. IDACORP Inc has a twelve month low of $92.63 and a twelve month high of $114.01.
A number of research analysts recently issued reports on IDA shares. ValuEngine downgraded IDACORP from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Sidoti began coverage on IDACORP in a report on Friday, September 27th. They set a “neutral” rating and a $114.00 price objective for the company. Williams Capital upgraded IDACORP from a “sell” rating to a “hold” rating and raised their price target for the company from $90.00 to $104.00 in a research note on Friday, November 1st. Finally, Bank of America upgraded IDACORP from an “underperform” rating to a “neutral” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $108.67.
IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; 3 natural gas-fired plants in southern Idaho; and interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
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