HRT Financial LLC purchased a new stake in shares of IDACORP Inc (NYSE:IDA) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,316 shares of the coal producer’s stock, valued at approximately $215,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pitcairn Co. boosted its position in IDACORP by 3.3% during the fourth quarter. Pitcairn Co. now owns 3,987 shares of the coal producer’s stock valued at $371,000 after buying an additional 127 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of IDACORP by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,395 shares of the coal producer’s stock valued at $316,000 after acquiring an additional 179 shares during the last quarter. Private Capital Group LLC raised its stake in shares of IDACORP by 107.0% during the fourth quarter. Private Capital Group LLC now owns 387 shares of the coal producer’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. Lavaca Capital LLC bought a new position in shares of IDACORP during the fourth quarter valued at about $27,000. Finally, Martingale Asset Management L P raised its stake in shares of IDACORP by 0.5% during the third quarter. Martingale Asset Management L P now owns 63,507 shares of the coal producer’s stock valued at $6,302,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 76.75% of the company’s stock.
IDA stock traded up $1.10 on Wednesday, hitting $98.04. The company had a trading volume of 247,333 shares, compared to its average volume of 241,493. The company has a current ratio of 2.31, a quick ratio of 1.91 and a debt-to-equity ratio of 0.77. IDACORP Inc has a 12-month low of $85.23 and a 12-month high of $102.44. The stock has a market capitalization of $4.90 billion, a P/E ratio of 21.84, a P/E/G ratio of 5.73 and a beta of 0.39.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.63 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.52 dividend on an annualized basis and a yield of 2.57%. IDACORP’s dividend payout ratio is currently 56.12%.
In other IDACORP news, VP Tessia Park sold 1,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $101.50, for a total transaction of $116,725.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steven R. Keen sold 4,346 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $99.32, for a total transaction of $431,644.72. Following the completion of the sale, the chief financial officer now directly owns 11,416 shares in the company, valued at $1,133,837.12. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Separately, Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Thursday, January 10th.
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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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