James Investment Research Inc. increased its stake in IDACORP Inc (NYSE:IDA) by 34.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,750 shares of the coal producer’s stock after acquiring an additional 3,000 shares during the quarter. James Investment Research Inc.’s holdings in IDACORP were worth $1,170,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of IDACORP during the 4th quarter worth about $13,960,000. Vanguard Group Inc grew its stake in shares of IDACORP by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 5,324,315 shares of the coal producer’s stock valued at $528,332,000 after purchasing an additional 129,108 shares during the period. Vanguard Group Inc. grew its stake in shares of IDACORP by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,324,315 shares of the coal producer’s stock valued at $528,332,000 after purchasing an additional 129,108 shares during the period. Foresters Investment Management Company Inc. bought a new stake in IDACORP during the 4th quarter worth approximately $9,390,000. Finally, BlackRock Inc. grew its position in IDACORP by 1.2% during the 4th quarter. BlackRock Inc. now owns 8,268,671 shares of the coal producer’s stock worth $769,483,000 after acquiring an additional 99,604 shares during the last quarter. Institutional investors and hedge funds own 76.54% of the company’s stock.
NYSE:IDA traded up $0.82 during mid-day trading on Wednesday, reaching $103.52. The stock had a trading volume of 147,032 shares, compared to its average volume of 244,493. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 23.06, a price-to-earnings-growth ratio of 6.05 and a beta of 0.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.11 and a quick ratio of 1.72. IDACORP Inc has a 12 month low of $85.23 and a 12 month high of $104.37.
IDACORP (NYSE:IDA) last posted its earnings results on Thursday, May 2nd. The coal producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.71 by $0.13. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. The company had revenue of $350.32 million during the quarter, compared to the consensus estimate of $298.14 million. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts anticipate that IDACORP Inc will post 4.45 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is presently 56.12%.
In other news, CFO Steven R. Keen sold 4,346 shares of IDACORP stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $99.32, for a total value of $431,644.72. Following the completion of the sale, the chief financial officer now directly owns 11,416 shares in the company, valued at $1,133,837.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Tessia Park sold 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $101.50, for a total transaction of $116,725.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.
Separately, ValuEngine downgraded IDACORP from a “buy” rating to a “hold” rating in a research note on Friday, April 26th.
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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