Teachers Retirement System of The State of Kentucky reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,070 shares of the coal producer’s stock after selling 630 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in IDACORP were worth $835,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in IDA. Independent Portfolio Consultants Inc. raised its position in IDACORP by 6.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 13,050 shares of the coal producer’s stock worth $1,083,000 after buying an additional 770 shares during the period. Mesirow Financial Investment Management Equity Management raised its position in IDACORP by 9.0% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 286,445 shares of the coal producer’s stock worth $23,763,000 after buying an additional 23,705 shares during the period. First Manhattan Co. raised its position in IDACORP by 2.6% in the first quarter. First Manhattan Co. now owns 90,731 shares of the coal producer’s stock worth $7,102,000 after buying an additional 2,318 shares during the period. Louisiana State Employees Retirement System raised its position in IDACORP by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the coal producer’s stock worth $1,054,000 after buying an additional 200 shares during the period. Finally, Capstone Asset Management Co. raised its position in IDACORP by 2.7% in the first quarter. Capstone Asset Management Co. now owns 3,812 shares of the coal producer’s stock worth $316,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 78.47% of the company’s stock.
IDACORP, Inc. (NYSE:IDA) opened at 87.84 on Friday. IDACORP, Inc. has a 12 month low of $72.93 and a 12 month high of $90.67. The stock’s 50 day moving average is $86.90 and its 200-day moving average is $83.33. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 21.49 and a beta of 0.51.
IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, May 4th. The coal producer reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.10. IDACORP had a net margin of 16.02% and a return on equity of 9.60%. The company had revenue of $302.54 million for the quarter. During the same quarter in the previous year, the business posted $0.51 earnings per share. Equities analysts anticipate that IDACORP, Inc. will post $4.00 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 8th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.50%. IDACORP’s payout ratio is currently 53.79%.
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A number of equities analysts have commented on the stock. BidaskClub lowered shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Zacks Investment Research lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th.
In other news, VP Lisa A. Grow sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total value of $106,344.00. Following the sale, the vice president now directly owns 17,248 shares in the company, valued at approximately $1,528,517.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.
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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