NJ State Employees Deferred Compensation Plan increased its position in IDACORP, Inc. (NYSE:IDA) by 50.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,000 shares of the coal producer’s stock after purchasing an additional 3,000 shares during the period. NJ State Employees Deferred Compensation Plan’s holdings in IDACORP were worth $791,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in IDA. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in IDACORP by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock worth $156,000 after purchasing an additional 224 shares in the last quarter. Advisor Group Inc. boosted its stake in IDACORP by 6.5% in the 2nd quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock worth $156,000 after purchasing an additional 111 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in IDACORP by 77.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock worth $182,000 after purchasing an additional 930 shares in the last quarter. ETRADE Capital Management LLC bought a new position in IDACORP in the 2nd quarter worth about $200,000. Finally, First Citizens Bank & Trust Co. bought a new position in IDACORP in the 2nd quarter worth about $205,000. Institutional investors own 76.01% of the company’s stock.
IDACORP (NYSE:IDA) last posted its earnings results on Thursday, November 2nd. The coal producer reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.11. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same period last year, the firm earned $1.65 EPS.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 6th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, November 3rd. This is a positive change from IDACORP’s previous quarterly dividend of $0.55. IDACORP’s payout ratio is 55.56%.
A number of equities analysts recently issued reports on IDA shares. Zacks Investment Research upgraded shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Thursday, July 27th. KeyCorp reiterated a “hold” rating on shares of IDACORP in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th.
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IDACORP Company Profile
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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