IDACORP Inc (NYSE:IDA) SVP Sells $106,210.00 in Stock – MarketBeat

IDACORP Inc (NYSE:IDA) SVP Sells $106,210.00 in Stock  MarketBeat

IDACORP Inc (NYSE:IDA) SVP Jeffrey L. Malmen sold 1,300 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $81.70, for a total transaction of $106,210.00.

Shares of IDACORP stock traded down $1.76 during midday trading on Wednesday, hitting $79.57. 427,667 shares of the company were exchanged, compared to its average volume of 300,975. The firm has a 50 day simple moving average of $87.60 and a 200-day simple moving average of $89.81. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.85 and a quick ratio of 1.60. The firm has a market cap of $4.10 billion, a P/E ratio of 17.15, a PEG ratio of 6.98 and a beta of 0.38. IDACORP Inc has a 52 week low of $69.05 and a 52 week high of $114.01.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 30th. The energy company reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.01. IDACORP had a net margin of 18.22% and a return on equity of 9.48%. The business had revenue of $318.77 million for the quarter, compared to analyst estimates of $310.35 million. During the same quarter in the prior year, the firm earned $1.05 EPS. Equities research analysts expect that IDACORP Inc will post 4.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, August 4th. IDACORP’s dividend payout ratio (DPR) is currently 58.13%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDA. FinTrust Capital Advisors LLC acquired a new position in IDACORP in the second quarter worth $49,000. Principal Financial Group Inc. grew its holdings in IDACORP by 5.8% during the 2nd quarter. Principal Financial Group Inc. now owns 345,020 shares of the energy company’s stock worth $30,145,000 after acquiring an additional 18,861 shares during the last quarter. PNC Financial Services Group Inc. increased its position in IDACORP by 7.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 15,293 shares of the energy company’s stock valued at $1,335,000 after acquiring an additional 1,048 shares in the last quarter. Engineers Gate Manager LP raised its stake in shares of IDACORP by 50.5% in the second quarter. Engineers Gate Manager LP now owns 5,073 shares of the energy company’s stock worth $443,000 after acquiring an additional 1,702 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of IDACORP by 1.2% during the second quarter. California State Teachers Retirement System now owns 84,718 shares of the energy company’s stock worth $7,402,000 after purchasing an additional 982 shares in the last quarter. Institutional investors and hedge funds own 77.16% of the company’s stock.


He invested in many of the most valuable stocks in recent history, long before they were household names… including: Netflix, Apple and Amazon…   And now he is super “Bullish” on this breakthrough technology that is known in Silicon Valley and Manhattan as “TaaS”…

Separately, Sidoti reduced their price objective on IDACORP from $108.00 to $101.00 and set a “buy” rating for the company in a research report on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $102.83.

IDACORP Company Profile

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.

Featured Story: Price to Earnings Ratio (PE) Basics

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to

6 Stocks Riding the Coattails of Nikola Motor

Since its initial public offering on June 4, shares of Nikola (NASDAQ: NKLA) have surged over 130%. NKLA stock has cooled down since then and is now trading at just over a 60% premium from its IPO price of $34 per share.

Nikola isn’t alone. The entire electric vehicle (EV) market is on a tear. In addition to the surge in Nikola stock, Tesla (NASDAQ: TSLA) stock is up over 93% and Nio (NYSE: NIO) stock has climbed nearly over 160% in the same time period. But while Tesla and Nio are actually producing cars, Nikola does not even have a plant built.

With all that said, the allure of Nikola is easy to see. The company is planning on building a fleet of hydrogen fuel cell trucks powered by hydrogen fueling stations from sea to shining sea. At least that’s the plan. But that plan is years away. The company won’t even have a fuel cell truck available until 2023 at the earliest.

And while the United States has 39 hydrogen fueling stations, it’s an expensive, complicated venture. But that’s been the problem with hydrogen for nearly two decades. And that has some investors wondering what the company’s chief executive officer (CEO) Trevor Milton is really selling.

Leaving aside the question of whether Nikola is riding the coattails of Tesla, Nikola is beginning to create some significant coattails of its own. And there’s a reason for this. While Nikola is planning to compete with Tesla in the electric car arena, it’s also covering a specific niche with a semi-truck that will run on a hydrogen fuel cell.

View the “6 Stocks Riding the Coattails of Nikola Motor”.

Source: marketbeat.com

Leave a Comment