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.
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