Fisher Asset Management LLC reduced its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 369,993 shares of the coal producer’s stock after selling 8,233 shares during the period. Fisher Asset Management LLC owned 0.73% of IDACORP worth $31,579,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in IDACORP by 18,568.5% in the first quarter. BlackRock Inc. now owns 7,810,350 shares of the coal producer’s stock valued at $647,945,000 after buying an additional 7,768,513 shares during the period. Vanguard Group Inc. raised its position in IDACORP by 3.6% in the first quarter. Vanguard Group Inc. now owns 4,579,299 shares of the coal producer’s stock valued at $379,899,000 after buying an additional 159,218 shares during the period. Renaissance Technologies LLC raised its position in IDACORP by 99.1% in the first quarter. Renaissance Technologies LLC now owns 220,770 shares of the coal producer’s stock valued at $18,315,000 after buying an additional 109,870 shares during the period. BlueCrest Capital Management Ltd bought a new position in IDACORP during the first quarter valued at approximately $8,761,000. Finally, Schroder Investment Management Group raised its position in IDACORP by 8.2% in the first quarter. Schroder Investment Management Group now owns 1,046,756 shares of the coal producer’s stock valued at $86,828,000 after buying an additional 79,517 shares during the period. 78.61% of the stock is currently owned by institutional investors.
Shares of IDACORP, Inc. (IDA) traded down 0.64% during mid-day trading on Friday, hitting $86.78. The stock had a trading volume of 163,138 shares. The firm’s 50 day moving average price is $86.00 and its 200-day moving average price is $84.09. IDACORP, Inc. has a one year low of $72.93 and a one year high of $90.67. The company has a market cap of $4.37 billion, a PE ratio of 21.92 and a beta of 0.51.
IDACORP (NYSE:IDA) last released its earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.07. The firm 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 company posted $1.12 earnings per share. On average, equities research analysts anticipate that IDACORP, Inc. will post $4.00 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 8th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, August 4th. IDACORP’s dividend payout ratio is 55.56%.
A number of brokerages have recently issued reports on IDA. BidaskClub lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 7th.
In other IDACORP news, VP Lisa A. Grow sold 1,200 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total transaction of $106,344.00. Following the completion of the transaction, the vice president now owns 17,248 shares of the company’s stock, valued at approximately $1,528,517.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is owned by insiders.
IDACORP Company Profile
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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