Northern Trust Corp increased its holdings in IDACORP Inc (NYSE:IDA) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,117,887 shares of the coal producer’s stock after purchasing an additional 7,295 shares during the period. Northern Trust Corp’s holdings in IDACORP were worth $111,274,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in IDACORP by 0.4% in the first quarter. BlackRock Inc. now owns 8,298,239 shares of the coal producer’s stock worth $826,005,000 after purchasing an additional 29,568 shares in the last quarter. Vanguard Group Inc grew its stake in IDACORP by 2.5% during the third quarter. Vanguard Group Inc now owns 5,324,315 shares of the coal producer’s stock worth $528,332,000 after buying an additional 129,108 shares during the last quarter. Geode Capital Management LLC grew its stake in IDACORP by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 547,294 shares of the coal producer’s stock worth $50,931,000 after buying an additional 37,621 shares during the last quarter. Wells Fargo & Company MN grew its stake in IDACORP by 6.9% during the first quarter. Wells Fargo & Company MN now owns 535,858 shares of the coal producer’s stock worth $53,339,000 after buying an additional 34,428 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in IDACORP by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 378,863 shares of the coal producer’s stock worth $35,256,000 after buying an additional 7,007 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.
In other IDACORP news, VP Tessia Park sold 280 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.
IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, May 2nd. The coal producer reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.13. The firm had revenue of $350.32 million for the quarter, compared to analysts’ expectations of $298.14 million. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts anticipate that IDACORP Inc will post 4.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 6th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, May 3rd. This represents a $2.52 annualized dividend and a yield of 2.45%. IDACORP’s dividend payout ratio is 56.12%.
IDA has been the topic of several research analyst reports. ValuEngine cut shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research cut shares of IDACORP from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Monday.
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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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