Swiss National Bank boosted its position in shares of IDACORP Inc (NYSE:IDA) by 3.0% in the first quarter, HoldingsChannel.com reports. The firm owned 91,800 shares of the coal producer’s stock after purchasing an additional 2,700 shares during the period. Swiss National Bank’s holdings in IDACORP were worth $9,138,000 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 IDA. Liberty Wealth Management LLC acquired a new position in IDACORP during the fourth quarter valued at approximately $34,000. Lavaca Capital LLC grew its holdings in IDACORP by 37.1% during the first quarter. Lavaca Capital LLC now owns 399 shares of the coal producer’s stock valued at $40,000 after purchasing an additional 108 shares during the period. Enterprise Financial Services Corp grew its holdings in IDACORP by 176.9% during the first quarter. Enterprise Financial Services Corp now owns 407 shares of the coal producer’s stock valued at $41,000 after purchasing an additional 260 shares during the period. Cullen Frost Bankers Inc. acquired a new position in IDACORP during the first quarter valued at approximately $50,000. Finally, Hanson & Doremus Investment Management grew its holdings in IDACORP by 108.4% during the first quarter. Hanson & Doremus Investment Management now owns 521 shares of the coal producer’s stock valued at $52,000 after purchasing an additional 271 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.
In other IDACORP news, VP Tessia Park sold 280 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $103.29, for a total transaction of $28,921.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of IDACORP from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. 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.
IDACORP stock opened at $103.04 on Friday. The company has a market capitalization of $5.24 billion, a PE ratio of 22.95, a P/E/G ratio of 6.08 and a beta of 0.35. IDACORP Inc has a twelve month low of $86.54 and a twelve month high of $105.46. The company has a quick ratio of 1.72, a current ratio of 2.11 and a debt-to-equity ratio of 0.77.
IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 2nd. The coal producer reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.13. The business had revenue of $350.32 million for the quarter, compared to analyst estimates of $298.14 million. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. During the same quarter in the previous year, the firm posted $0.72 earnings per share. As a group, equities research analysts predict that IDACORP Inc will post 4.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.45%. The ex-dividend date was Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is currently 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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