Prudential Financial Inc. lifted its position in shares of Idacorp (NYSE:IDA) by 71.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 216,366 shares of the coal producer’s stock after acquiring an additional 90,270 shares during the quarter. Prudential Financial Inc. owned approximately 0.43% of Idacorp worth $19,099,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Texas Yale Capital Corp. boosted its stake in Idacorp by 1.8% in the 1st quarter. Texas Yale Capital Corp. now owns 32,890 shares of the coal producer’s stock worth $2,903,000 after purchasing an additional 595 shares during the period. ETRADE Capital Management LLC boosted its stake in Idacorp by 24.4% in the 4th quarter. ETRADE Capital Management LLC now owns 3,514 shares of the coal producer’s stock worth $321,000 after purchasing an additional 690 shares during the period. OppenheimerFunds Inc. boosted its stake in Idacorp by 14.6% in the 4th quarter. OppenheimerFunds Inc. now owns 5,731 shares of the coal producer’s stock worth $524,000 after purchasing an additional 730 shares during the period. First National Bank of Omaha boosted its stake in Idacorp by 3.2% in the 1st quarter. First National Bank of Omaha now owns 24,546 shares of the coal producer’s stock worth $2,167,000 after purchasing an additional 766 shares during the period. Finally, Meadow Creek Investment Management LLC boosted its stake in Idacorp by 11.4% in the 4th quarter. Meadow Creek Investment Management LLC now owns 7,644 shares of the coal producer’s stock worth $698,000 after purchasing an additional 784 shares during the period. Institutional investors own 76.39% of the company’s stock.
Get Idacorp alerts:In other Idacorp news, CFO Steven R. Keen sold 3,557 shares of the firm’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $87.72, for a total value of $312,020.04. Following the sale, the chief financial officer now owns 17,240 shares of the company’s stock, valued at approximately $1,512,292.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Tessia Park sold 300 shares of the firm’s stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $85.40, for a total value of $25,620.00. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research upgraded Idacorp from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Thursday, April 5th. Williams Capital restated a “hold” rating and issued a $80.00 target price (down previously from $86.00) on shares of Idacorp in a research note on Monday, February 26th. Finally, ValuEngine downgraded Idacorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $88.00.
Shares of NYSE IDA opened at $87.90 on Monday. Idacorp has a 52 week low of $79.59 and a 52 week high of $100.04. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 5.42 and a beta of 0.39.
Idacorp (NYSE:IDA) last released its quarterly earnings results on Thursday, May 3rd. The coal producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.02. Idacorp had a return on equity of 9.62% and a net margin of 15.88%. The firm had revenue of $310.11 million for the quarter, compared to analysts’ expectations of $302.93 million. During the same quarter last year, the firm posted $0.66 EPS. equities analysts forecast that Idacorp will post 4.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 30th. Shareholders of record on Monday, May 7th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, May 4th. This represents a $2.36 annualized dividend and a dividend yield of 2.68%. Idacorp’s payout ratio is currently 56.06%.
Idacorp Company Profile
IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
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