John G Ullman & Associates Inc. Reduces Position in IDACORP Inc (IDA)

John G Ullman & Associates Inc. cut its holdings in IDACORP Inc (NYSE:IDA) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,039 shares of the coal producer’s stock after selling 325 shares during the period. John G Ullman & Associates Inc. owned 0.09% of IDACORP worth $4,583,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of Tennessee Treasury Department boosted its holdings in IDACORP by 3.0% in the 4th quarter. State of Tennessee Treasury Department now owns 60,357 shares of the coal producer’s stock worth $5,616,000 after buying an additional 1,753 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in IDACORP by 23.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 23,999 shares of the coal producer’s stock worth $2,233,000 after purchasing an additional 4,501 shares in the last quarter. Foresters Investment Management Company Inc. purchased a new stake in IDACORP in the 4th quarter worth approximately $9,390,000. D. E. Shaw & Co. Inc. purchased a new stake in IDACORP in the 4th quarter worth approximately $6,559,000. Finally, LVM Capital Management Ltd. MI lifted its stake in IDACORP by 2.2% in the 4th quarter. LVM Capital Management Ltd. MI now owns 90,056 shares of the coal producer’s stock worth $8,381,000 after purchasing an additional 1,925 shares in the last quarter. 76.62% of the stock is owned by institutional investors.

Separately, ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research note on Monday, May 13th.

In other news, CFO Steven R. Keen sold 4,346 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $99.32, for a total transaction of $431,644.72. Following the sale, the chief financial officer now owns 11,416 shares in the company, valued at approximately $1,133,837.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Tessia Park sold 280 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $103.29, for a total transaction of $28,921.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,776 shares of company stock worth $577,291. Corporate insiders own 0.54% of the company’s stock.

NYSE IDA traded down $0.45 on Friday, hitting $103.67. The stock had a trading volume of 165,100 shares, compared to its average volume of 243,304. IDACORP Inc has a 52-week low of $85.23 and a 52-week high of $104.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.11 and a quick ratio of 1.72. The stock has a market capitalization of $5.18 billion, a PE ratio of 23.09, a P/E/G ratio of 6.01 and a beta of 0.38.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, May 2nd. The coal producer reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.13. The business had revenue of $350.32 million for the quarter, compared to analysts’ expectations of $298.14 million. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts anticipate that IDACORP Inc will post 4.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 6th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is currently 56.12%.

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About IDACORP

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.

See Also: Preferred Stock

Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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