IDACORP Inc (IDA) Director Sells $252,909.00 in Stock

IDACORP Inc (NYSE:IDA) Director Christine King sold 2,900 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $87.21, for a total transaction of $252,909.00. Following the transaction, the director now owns 13,381 shares in the company, valued at approximately $1,166,957.01. The transaction was disclosed in a document filed with the SEC, which is available at this link.

IDACORP opened at $88.34 on Monday, MarketBeat reports. IDACORP Inc has a 1 year low of $79.59 and a 1 year high of $100.04. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $4.45 billion, a P/E ratio of 20.98, a PEG ratio of 5.44 and a beta of 0.40.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, May 3rd. The coal producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. IDACORP had a net margin of 15.88% and a return on equity of 9.62%. The business had revenue of $310.11 million for the quarter, compared to analyst estimates of $302.93 million. During the same period last year, the business posted $0.66 EPS. research analysts forecast that IDACORP Inc will post 4.19 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Monday, May 7th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, May 4th. This represents a $2.36 dividend on an annualized basis and a yield of 2.67%. IDACORP’s payout ratio is presently 56.06%.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in IDACORP by 1.5% in the 4th quarter. BlackRock Inc. now owns 7,983,305 shares of the coal producer’s stock valued at $729,356,000 after buying an additional 116,636 shares during the last quarter. Schroder Investment Management Group grew its stake in IDACORP by 2.3% in the 4th quarter. Schroder Investment Management Group now owns 1,095,779 shares of the coal producer’s stock valued at $100,110,000 after buying an additional 24,941 shares during the last quarter. Bank of New York Mellon Corp grew its stake in IDACORP by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 751,681 shares of the coal producer’s stock valued at $68,673,000 after buying an additional 10,831 shares during the last quarter. Renaissance Technologies LLC grew its stake in IDACORP by 48.8% in the 4th quarter. Renaissance Technologies LLC now owns 664,400 shares of the coal producer’s stock valued at $60,700,000 after buying an additional 217,900 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in IDACORP by 164.1% in the 1st quarter. Wells Fargo & Company MN now owns 610,522 shares of the coal producer’s stock valued at $53,891,000 after buying an additional 379,310 shares during the last quarter. Institutional investors and hedge funds own 76.55% of the company’s stock.

A number of research analysts have recently weighed in on IDA shares. Zacks Investment Research downgraded shares of IDACORP from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Williams Capital lowered shares of IDACORP from a “hold” rating to a “sell” rating and set a $80.00 target price on the stock. in a research note on Monday, June 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $89.00.

IDACORP Company Profile

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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