Assenagon Asset Management S.A. bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 37,174 shares of the coal producer’s stock, valued at approximately $3,269,000. Assenagon Asset Management S.A. owned about 0.07% of IDACORP at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arizona State Retirement System lifted its position in shares of IDACORP by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 21,200 shares of the coal producer’s stock worth $1,809,000 after buying an additional 200 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of IDACORP by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 373,448 shares of the coal producer’s stock valued at $31,874,000 after buying an additional 17,257 shares during the period. First Trust Advisors LP increased its stake in shares of IDACORP by 11.6% in the second quarter. First Trust Advisors LP now owns 250,599 shares of the coal producer’s stock valued at $21,389,000 after buying an additional 25,991 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of IDACORP by 11.5% in the second quarter. Parametric Portfolio Associates LLC now owns 169,343 shares of the coal producer’s stock valued at $14,453,000 after buying an additional 17,447 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of IDACORP by 17.4% in the second quarter. Russell Investments Group Ltd. now owns 30,098 shares of the coal producer’s stock valued at $2,569,000 after buying an additional 4,464 shares during the period. 76.02% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on IDA shares. Zacks Investment Research raised IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Thursday, July 27th. ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research note on Thursday. KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a research note on Friday, September 1st. Finally, BidaskClub raised IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th.
Shares of IDACORP, Inc. (NYSE:IDA) traded down $0.12 during trading on Friday, reaching $95.17. The company had a trading volume of 239,100 shares, compared to its average volume of 188,053. The company has a market capitalization of $4,801.95, a price-to-earnings ratio of 23.18, a P/E/G ratio of 5.14 and a beta of 0.53. IDACORP, Inc. has a 1-year low of $74.27 and a 1-year high of $95.57. The company has a quick ratio of 1.53, a current ratio of 2.03 and a debt-to-equity ratio of 0.78.
IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.14. IDACORP had a return on equity of 9.44% and a net margin of 15.46%. The company had revenue of $408.32 million during the quarter. During the same quarter last year, the firm posted $1.65 earnings per share. research analysts anticipate that IDACORP, Inc. will post 4.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.59 per share. The ex-dividend date is Friday, November 3rd. This represents a $2.36 annualized dividend and a yield of 2.48%. This is a positive change from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s payout ratio is 57.42%.
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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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