Comerica Bank raised its stake in shares of IDACORP Inc (NYSE:IDA) by 1.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,772 shares of the coal producer’s stock after acquiring an additional 614 shares during the period. Comerica Bank’s holdings in IDACORP were worth $3,308,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its holdings in IDACORP by 98.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 56,598 shares of the coal producer’s stock worth $5,634,000 after acquiring an additional 28,081 shares during the last quarter. Rhumbline Advisers increased its holdings in IDACORP by 4.2% in the 1st quarter. Rhumbline Advisers now owns 183,117 shares of the coal producer’s stock worth $18,227,000 after acquiring an additional 7,427 shares during the last quarter. HL Financial Services LLC increased its holdings in IDACORP by 14.7% in the 1st quarter. HL Financial Services LLC now owns 2,514 shares of the coal producer’s stock worth $250,000 after acquiring an additional 322 shares during the last quarter. First National Bank of Omaha increased its holdings in IDACORP by 1.0% in the 1st quarter. First National Bank of Omaha now owns 22,414 shares of the coal producer’s stock worth $2,231,000 after acquiring an additional 226 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in IDACORP in the 1st quarter worth about $209,000. Institutional investors and hedge funds own 76.54% of the company’s stock.
In other news, CFO Steven R. Keen sold 4,346 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $99.32, for a total transaction of $431,644.72. Following the completion of the transaction, the chief financial officer now owns 11,416 shares of the company’s stock, valued at $1,133,837.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Tessia Park sold 1,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $101.50, for a total value of $116,725.00. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.
IDACORP (NYSE:IDA) last posted its earnings results on Thursday, May 2nd. The coal producer reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.13. The business had revenue of $350.32 million during the quarter, compared to analyst estimates of $298.14 million. IDACORP had a return on equity of 9.89% and a net margin of 16.54%. During the same quarter in the previous year, the firm earned $0.72 EPS. Sell-side analysts expect that IDACORP Inc will post 4.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s payout ratio is presently 56.12%.
Separately, ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a report on Monday, May 13th.
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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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