Pacer Advisors Inc. lifted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 12.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,572 shares of the coal producer’s stock after buying an additional 598 shares during the period. Pacer Advisors Inc.’s holdings in IDACORP were worth $476,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Jaffetilchin Investment Partners LLC purchased a new position in IDACORP in the 1st quarter valued at approximately $203,000. First Citizens Bank & Trust Co. acquired a new stake in IDACORP during the 2nd quarter valued at $205,000. LifePlan Financial Group Inc acquired a new stake in IDACORP during the 2nd quarter valued at $205,000. Jane Street Group LLC acquired a new stake in IDACORP during the 1st quarter valued at $209,000. Finally, World Asset Management Inc grew its holdings in IDACORP by 1.7% during the 1st quarter. World Asset Management Inc now owns 3,122 shares of the coal producer’s stock valued at $259,000 after buying an additional 51 shares during the last quarter. 75.95% of the stock is owned by institutional investors and hedge funds.
IDA has been the topic of several analyst reports. BidaskClub cut IDACORP from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research upgraded IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Finally, KeyCorp reiterated a “hold” rating on shares of IDACORP in a report on Friday, September 1st.
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IDACORP, Inc. (NYSE IDA) traded down 0.87% on Friday, reaching $87.75. The company’s stock had a trading volume of 159,391 shares. The stock has a 50 day moving average price of $88.54 and a 200-day moving average price of $85.84. IDACORP, Inc. has a 1-year low of $72.93 and a 1-year high of $91.98. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of 22.16 and a beta of 0.51.
IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). The company had revenue of $333.01 million for the quarter. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same period last year, the company posted $1.12 EPS. Equities analysts predict that IDACORP, Inc. will post $4.00 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, August 4th. IDACORP’s payout ratio is 55.56%.
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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