LS Investment Advisors LLC trimmed its holdings in IDACORP Inc (NYSE:IDA) by 19.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,099 shares of the coal producer’s stock after selling 759 shares during the period. LS Investment Advisors LLC’s holdings in IDACORP were worth $283,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in IDA. Stifel Financial Corp lifted its holdings in shares of IDACORP by 3.3% in the second quarter. Stifel Financial Corp now owns 4,826 shares of the coal producer’s stock valued at $411,000 after buying an additional 154 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of IDACORP in the second quarter valued at $342,000. The Manufacturers Life Insurance Company lifted its holdings in shares of IDACORP by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 110,997 shares of the coal producer’s stock valued at $9,474,000 after buying an additional 1,108 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of IDACORP in the second quarter valued at $265,000. Finally, Verition Fund Management LLC purchased a new stake in shares of IDACORP during the second quarter valued at $311,000. 75.91% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the company. Williams Capital reaffirmed a “hold” rating and set a $80.00 target price (down from $86.00) on shares of IDACORP in a report on Monday, February 26th. Zacks Investment Research downgraded IDACORP from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Bank of America assumed coverage on IDACORP in a report on Tuesday, January 9th. They set an “underperform” rating and a $85.00 target price for the company. Finally, ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. 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 company’s stock. The stock currently has an average rating of “Hold” and an average target price of $87.33.
Shares of IDACORP Inc (NYSE:IDA) traded up $0.63 during midday trading on Wednesday, hitting $83.61. The stock had a trading volume of 275,463 shares, compared to its average volume of 309,327. The stock has a market capitalization of $4,198.69, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 4.90 and a beta of 0.47. IDACORP Inc has a twelve month low of $79.59 and a twelve month high of $100.04. 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 (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 22nd. The coal producer reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.10. The firm had revenue of $305.61 million for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.66 earnings per share. research analysts anticipate that IDACORP Inc will post 4.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 5th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend was Friday, February 2nd. IDACORP’s payout ratio is 55.92%.
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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