W.E. Donoghue & Co. LLC purchased a new stake in shares of IDACORP Inc (NYSE:IDA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 61,517 shares of the coal producer’s stock, valued at approximately $6,178,000. W.E. Donoghue & Co. LLC owned approximately 0.12% of IDACORP as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of IDA. Lavaca Capital LLC increased its holdings in IDACORP by 37.1% during the first quarter. Lavaca Capital LLC now owns 399 shares of the coal producer’s stock valued at $40,000 after buying an additional 108 shares during the period. Creative Planning grew its holdings in IDACORP by 1.9% in the first quarter. Creative Planning now owns 6,038 shares of the coal producer’s stock worth $601,000 after purchasing an additional 112 shares during the last quarter. 6 Meridian grew its holdings in IDACORP by 2.3% in the second quarter. 6 Meridian now owns 5,123 shares of the coal producer’s stock worth $515,000 after purchasing an additional 113 shares during the last quarter. Bessemer Group Inc. grew its holdings in IDACORP by 0.4% in the second quarter. Bessemer Group Inc. now owns 52,600 shares of the coal producer’s stock worth $5,283,000 after purchasing an additional 200 shares during the last quarter. Finally, First National Bank of Omaha grew its holdings in IDACORP by 1.0% in the first quarter. First National Bank of Omaha now owns 22,414 shares of the coal producer’s stock worth $2,231,000 after purchasing an additional 226 shares during the last quarter. 76.35% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price target on the stock. in a report on Friday, July 26th. ValuEngine raised shares of IDACORP from a “hold” rating to a “buy” rating in a report on Monday, May 13th.
Shares of IDA traded down $0.74 during trading hours on Friday, reaching $102.92. 7,880 shares of the company traded hands, compared to its average volume of 309,172. The company has a market capitalization of $5.15 billion, a PE ratio of 22.94, a P/E/G ratio of 6.01 and a beta of 0.31. The company has a quick ratio of 1.72, a current ratio of 2.11 and a debt-to-equity ratio of 0.77. IDACORP Inc has a 12-month low of $89.31 and a 12-month high of $106.13. The stock has a fifty day simple moving average of $103.13.
IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 1st. The coal producer reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). The business had revenue of $316.90 million for the quarter, compared to analyst estimates of $327.38 million. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. During the same quarter in the prior year, the firm earned $1.23 earnings per share. On average, analysts anticipate that IDACORP Inc will post 4.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 5th will be given a $0.63 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.45%. IDACORP’s dividend payout ratio (DPR) is currently 56.12%.
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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