IDACORP Inc (NYSE:IDA) VP Tessia Park sold 300 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $85.40, for a total value of $25,620.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of IDACORP Inc (IDA) traded down $0.38 during mid-day trading on Tuesday, hitting $85.85. The stock had a trading volume of 277,376 shares, compared to its average volume of 351,548. The firm has a market capitalization of $4,338.78, a P/E ratio of 20.34, a PEG ratio of 5.06 and a beta of 0.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.65 and a current ratio of 2.21. IDACORP Inc has a 1-year low of $79.59 and a 1-year high of $100.04.
IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, February 22nd. The coal producer reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The business had revenue of $305.61 million for the quarter, compared to the consensus estimate of $274.05 million. IDACORP had a return on equity of 9.59% and a net margin of 15.74%. During the same period in the prior year, the firm posted $0.66 earnings per share. sell-side analysts forecast that IDACORP Inc will post 4.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, February 2nd. IDACORP’s dividend payout ratio (DPR) is presently 55.92%.
A number of brokerages have recently issued reports on IDA. Williams Capital reaffirmed a “hold” rating and set a $80.00 price target (down from $86.00) on shares of IDACORP in a research report on Monday, February 26th. ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Zacks Investment Research downgraded IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Bank of America began coverage on IDACORP in a research report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $87.33.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of IDACORP by 15.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 4,170 shares of the coal producer’s stock valued at $367,000 after buying an additional 550 shares during the last quarter. Tiedemann Wealth Management LLC grew its holdings in shares of IDACORP by 6.0% during the third quarter. Tiedemann Wealth Management LLC now owns 11,085 shares of the coal producer’s stock valued at $977,000 after buying an additional 627 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of IDACORP by 11.7% during the third quarter. Pacer Advisors Inc. now owns 6,222 shares of the coal producer’s stock valued at $547,000 after buying an additional 650 shares during the last quarter. Commonwealth Equity Services Inc grew its holdings in shares of IDACORP by 7.8% during the third quarter. Commonwealth Equity Services Inc now owns 9,134 shares of the coal producer’s stock valued at $803,000 after buying an additional 657 shares during the last quarter. Finally, ETRADE Capital Management LLC grew its holdings in shares of IDACORP by 24.4% during the fourth quarter. ETRADE Capital Management LLC now owns 3,514 shares of the coal producer’s stock valued at $321,000 after buying an additional 690 shares during the last quarter. 75.65% of the stock is currently owned by hedge funds and other institutional investors.
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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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