Cetera Advisor Networks LLC lifted its stake in shares of IDACORP Inc (NYSE:IDA) by 51.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,249 shares of the coal producer’s stock after purchasing an additional 1,099 shares during the period. Cetera Advisor Networks LLC’s holdings in IDACORP were worth $325,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in IDACORP during the 2nd quarter worth approximately $80,000. Liberty Wealth Management LLC grew its holdings in shares of IDACORP by 159.6% during the 2nd quarter. Liberty Wealth Management LLC now owns 976 shares of the coal producer’s stock valued at $98,000 after purchasing an additional 600 shares during the last quarter. Hilton Capital Management LLC bought a new position in shares of IDACORP during the 1st quarter valued at $102,000. Pearl River Capital LLC grew its holdings in shares of IDACORP by 853.8% during the 2nd quarter. Pearl River Capital LLC now owns 1,240 shares of the coal producer’s stock valued at $125,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Ingalls & Snyder LLC bought a new position in shares of IDACORP during the 2nd quarter valued at $201,000. 98.25% of the stock is currently owned by institutional investors.
In other news, COO Lisa A. Grow sold 750 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $108.26, for a total value of $81,195.00. Following the completion of the sale, the chief operating officer now directly owns 14,247 shares of the company’s stock, valued at $1,542,380.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.
IDACORP stock opened at $112.50 on Friday. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 6.58 and a beta of 0.24. The firm’s fifty day moving average is $108.79 and its 200 day moving average is $103.21. The company has a quick ratio of 1.64, a current ratio of 2.03 and a debt-to-equity ratio of 0.76. IDACORP Inc has a 52-week low of $89.31 and a 52-week high of $114.01.
IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 1st. The coal producer reported $1.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.12). The firm had revenue of $316.90 million during the quarter, compared to analysts’ expectations of $327.38 million. IDACORP had a net margin of 16.16% and a return on equity of 9.40%. During the same period in the prior year, the company posted $1.23 EPS. On average, equities research analysts anticipate that IDACORP Inc will post 4.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, August 2nd. IDACORP’s payout ratio is currently 56.12%.
IDA has been the topic of several recent research reports. Sidoti initiated coverage on shares of IDACORP in a report on Friday. They set a “neutral” rating and a $114.00 target price on the stock. Zacks Investment Research cut shares of IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price target for the company. in a research report on Friday, July 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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