UBS Asset Management Americas Inc. increased its position in IDACORP Inc (NYSE:IDA) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,504 shares of the coal producer’s stock after purchasing an additional 1,293 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of IDACORP worth $3,244,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of IDA. Cambiar Investors LLC acquired a new position in IDACORP in the third quarter worth about $10,667,000. BlackRock Inc. grew its stake in IDACORP by 1.5% in the fourth quarter. BlackRock Inc. now owns 7,983,305 shares of the coal producer’s stock worth $729,356,000 after purchasing an additional 116,636 shares in the last quarter. Wells Fargo & Company MN grew its stake in IDACORP by 56.6% in the third quarter. Wells Fargo & Company MN now owns 251,720 shares of the coal producer’s stock worth $22,134,000 after purchasing an additional 90,948 shares in the last quarter. Schroder Investment Management Group grew its stake in IDACORP by 3.9% in the third quarter. Schroder Investment Management Group now owns 1,070,838 shares of the coal producer’s stock worth $94,855,000 after purchasing an additional 39,705 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new position in IDACORP in the fourth quarter worth about $2,062,000. Institutional investors and hedge funds own 75.65% of the company’s stock.
A number of research firms recently commented on IDA. ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research upgraded 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. Williams Capital reissued a “hold” rating and issued a $80.00 target price (down previously from $86.00) on shares of IDACORP in a report on Monday, February 26th. Finally, Bank of America initiated coverage on shares of IDACORP in a report on Tuesday, January 9th. They issued an “underperform” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. IDACORP currently has a consensus rating of “Hold” and an average target price of $87.33.
NYSE IDA traded down $0.41 during trading hours on Friday, reaching $87.25. The company’s stock had a trading volume of 280,438 shares, compared to its average volume of 345,896. The company has a quick ratio of 1.65, a current ratio of 2.21 and a debt-to-equity ratio of 0.77. IDACORP Inc has a 52 week low of $79.59 and a 52 week high of $100.04. The stock has a market capitalization of $4,381.11, a P/E ratio of 20.74, a P/E/G ratio of 5.11 and a beta of 0.40.
IDACORP (NYSE:IDA) last issued its earnings results on Thursday, February 22nd. The coal producer reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.10. IDACORP had a net margin of 15.74% and a return on equity of 9.59%. The firm had revenue of $305.61 million for the quarter, compared to analysts’ expectations of $274.05 million. During the same quarter last year, the company posted $0.66 earnings per share. equities research analysts expect that IDACORP Inc will post 4.18 earnings per share for the current year.
In other news, CFO Steven R. Keen sold 3,557 shares of IDACORP stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $87.72, for a total transaction of $312,020.04. Following the sale, the chief financial officer now owns 17,240 shares of the company’s stock, valued at $1,512,292.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Tessia Park sold 300 shares of IDACORP stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $85.40, for a total value of $25,620.00. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
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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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