Capstone Asset Management Co. boosted its stake in IDACORP, Inc. (NYSE:IDA) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,872 shares of the coal producer’s stock after buying an additional 60 shares during the period. Capstone Asset Management Co.’s holdings in IDACORP were worth $330,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of IDACORP by 3.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 17,786 shares of the coal producer’s stock valued at $1,476,000 after buying an additional 584 shares during the last quarter. First Midwest Bank Trust Division boosted its position in shares of IDACORP by 0.5% in the first quarter. First Midwest Bank Trust Division now owns 9,675 shares of the coal producer’s stock valued at $803,000 after buying an additional 45 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of IDACORP by 41.3% in the first quarter. Russell Investments Group Ltd. now owns 25,634 shares of the coal producer’s stock valued at $2,127,000 after buying an additional 7,494 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new position in shares of IDACORP during the first quarter valued at about $269,000. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of IDACORP by 6.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 13,050 shares of the coal producer’s stock valued at $1,083,000 after buying an additional 770 shares during the last quarter. 78.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of IDACORP, Inc. (IDA) traded down 0.89% on Friday, reaching $86.56. The company’s stock had a trading volume of 52,638 shares. IDACORP, Inc. has a 12-month low of $72.93 and a 12-month high of $90.67. The stock has a market cap of $4.36 billion, a PE ratio of 21.86 and a beta of 0.51. The firm has a 50 day moving average price of $86.00 and a 200-day moving average price of $84.09.
IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.07. The business had revenue of $333.01 million for the quarter. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same period last year, the business posted $1.12 earnings per share. Equities research analysts expect that IDACORP, Inc. will post $4.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, August 4th. This represents a $2.20 annualized dividend and a yield of 2.52%. IDACORP’s dividend payout ratio (DPR) is 55.56%.
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Several brokerages have issued reports on IDA. Zacks Investment Research raised IDACORP from a “hold” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Thursday, July 27th. BidaskClub cut IDACORP from a “buy” rating to a “hold” rating in a research report on Friday, June 30th.
In other IDACORP news, VP Lisa A. Grow sold 1,200 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total transaction of $106,344.00. Following the completion of the sale, the vice president now owns 17,248 shares of the company’s stock, valued at $1,528,517.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by company insiders.
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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