Jane Street Group LLC Invests $16.33 Million in IDACORP Inc (NYSE:IDA)

Jane Street Group LLC purchased a new position in shares of IDACORP Inc (NYSE:IDA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 162,563 shares of the coal producer’s stock, valued at approximately $16,326,000.

Other hedge funds have also modified their holdings of the company. 6 Meridian increased its position in shares of IDACORP by 2.3% in the 2nd quarter. 6 Meridian now owns 5,123 shares of the coal producer’s stock valued at $515,000 after acquiring an additional 113 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of IDACORP by 1.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,320 shares of the coal producer’s stock valued at $936,000 after acquiring an additional 130 shares during the period. Bessemer Group Inc. increased its position in shares of IDACORP by 0.4% in the 2nd quarter. Bessemer Group Inc. now owns 52,600 shares of the coal producer’s stock valued at $5,283,000 after acquiring an additional 200 shares during the period. James Investment Research Inc. increased its position in shares of IDACORP by 2.0% in the 2nd quarter. James Investment Research Inc. now owns 11,980 shares of the coal producer’s stock valued at $1,203,000 after acquiring an additional 230 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in shares of IDACORP by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,545 shares of the coal producer’s stock valued at $3,039,000 after acquiring an additional 247 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating and set a $108.00 target price on the stock. in a research report on Friday, July 26th.

Shares of NYSE IDA traded up $0.82 during mid-day trading on Friday, hitting $111.19. The stock had a trading volume of 247,407 shares, compared to its average volume of 321,243. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.64 and a current ratio of 2.03. The company has a 50 day moving average of $107.55 and a two-hundred day moving average of $102.76. IDACORP Inc has a twelve month low of $89.31 and a twelve month high of $111.83. The firm has a market cap of $4.32 billion, a PE ratio of 24.76, a PEG ratio of 6.43 and a beta of 0.24.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, August 1st. The coal producer reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.12). IDACORP had a net margin of 16.16% and a return on equity of 9.40%. The firm had revenue of $316.90 million during the quarter, compared to analyst estimates of $327.38 million. During the same period in the previous year, the company earned $1.23 earnings per share. Equities research analysts predict that IDACORP Inc will post 4.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, August 2nd. IDACORP’s payout ratio is 56.12%.

In other IDACORP news, COO Lisa A. Grow sold 750 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $108.26, for a total transaction of $81,195.00. Following the sale, the chief operating officer now directly owns 14,247 shares of the company’s stock, valued at approximately $1,542,380.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

IDACORP 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. 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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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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