O Shares Investment Advisers LLC lessened its holdings in IDACORP Inc (NYSE:IDA) by 10.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,478 shares of the coal producer’s stock after selling 422 shares during the quarter. O Shares Investment Advisers LLC’s holdings in IDACORP were worth $346,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in IDA. Liberty Wealth Management LLC purchased a new stake in IDACORP in the fourth quarter worth about $34,000. Lavaca Capital LLC grew its holdings in IDACORP by 37.1% in the first quarter. Lavaca Capital LLC now owns 399 shares of the coal producer’s stock worth $40,000 after purchasing an additional 108 shares during the period. Enterprise Financial Services Corp grew its holdings in IDACORP by 176.9% in the first quarter. Enterprise Financial Services Corp now owns 407 shares of the coal producer’s stock worth $41,000 after purchasing an additional 260 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in IDACORP in the first quarter worth about $41,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in IDACORP in the first quarter worth about $50,000. Institutional investors and hedge funds own 76.48% of the company’s stock.
In related news, VP Tessia Park sold 280 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $103.29, for a total transaction of $28,921.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.
IDA has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of IDACORP from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Monday. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a report on Monday, May 13th.
NYSE:IDA opened at $103.29 on Friday. IDACORP Inc has a 52 week low of $86.54 and a 52 week high of $105.46. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.72 and a current ratio of 2.11. The company has a market cap of $5.24 billion, a PE ratio of 23.00, a PEG ratio of 6.08 and a beta of 0.35.
IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, May 2nd. The coal producer reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.13. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. The firm had revenue of $350.32 million for the quarter, compared to analysts’ expectations of $298.14 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. As a group, equities analysts predict that IDACORP Inc will post 4.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Monday, May 6th were given a dividend of $0.63 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.52 dividend on an annualized basis and a yield of 2.44%. IDACORP’s dividend payout ratio (DPR) is 56.12%.
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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. 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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