Johanson Financial Advisors Inc. Invests $578,000 in IDACORP Inc (IDA)

Johanson Financial Advisors Inc. purchased a new position in IDACORP Inc (NYSE:IDA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,796 shares of the coal producer’s stock, valued at approximately $578,000.

Several other hedge funds have also recently added to or reduced their stakes in IDA. Lavaca Capital LLC bought a new stake in IDACORP during the fourth quarter valued at about $27,000. Liberty Wealth Management LLC bought a new stake in shares of IDACORP in the fourth quarter worth about $34,000. Private Capital Group LLC increased its holdings in shares of IDACORP by 107.0% in the fourth quarter. Private Capital Group LLC now owns 387 shares of the coal producer’s stock worth $36,000 after purchasing an additional 200 shares during the last quarter. Enterprise Financial Services Corp increased its holdings in shares of IDACORP by 176.9% in the first quarter. Enterprise Financial Services Corp now owns 407 shares of the coal producer’s stock worth $41,000 after purchasing an additional 260 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of IDACORP in the first quarter worth about $50,000. Hedge funds and other institutional investors own 76.89% of the company’s stock.

Shares of IDA stock opened at $101.64 on Monday. IDACORP Inc has a 12-month low of $85.23 and a 12-month high of $102.44. The company has a current ratio of 2.11, a quick ratio of 1.72 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $5.12 billion, a PE ratio of 22.64, a PEG ratio of 5.90 and a beta of 0.38.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, May 2nd. The coal producer reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.13. IDACORP had a return on equity of 9.89% and a net margin of 16.54%. The firm had revenue of $350.32 million for the quarter, compared to analysts’ expectations of $298.14 million. During the same period in the previous year, the firm posted $0.72 earnings per share. As a group, analysts predict that IDACORP Inc will post 4.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.63 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.52 annualized dividend and a yield of 2.48%. IDACORP’s 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 stock was sold at an average price of $101.50, for a total transaction of $116,725.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven R. Keen sold 4,346 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $99.32, for a total value of $431,644.72. Following 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, ValuEngine cut IDACORP from a “buy” rating to a “hold” rating in a report on Friday, April 26th.

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About IDACORP

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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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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