Cetera Advisors LLC grew its stake in shares of IDACORP Inc (NYSE:IDA) by 5.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,307 shares of the coal producer’s stock after acquiring an additional 557 shares during the period. Cetera Advisors LLC’s holdings in IDACORP were worth $1,128,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lavaca Capital LLC bought a new stake in shares of IDACORP during the fourth quarter valued at about $27,000. Liberty Wealth Management LLC bought a new stake in shares of IDACORP during the fourth quarter valued at about $34,000. Private Capital Group LLC increased its position in shares of IDACORP by 107.0% during the fourth quarter. Private Capital Group LLC now owns 387 shares of the coal producer’s stock valued at $36,000 after buying an additional 200 shares during the period. Enterprise Financial Services Corp increased its position in shares of IDACORP by 176.9% during the first quarter. Enterprise Financial Services Corp now owns 407 shares of the coal producer’s stock valued at $41,000 after buying an additional 260 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of IDACORP during the first quarter valued at about $50,000. Hedge funds and other institutional investors own 76.54% of the company’s stock.
IDA stock opened at $103.38 on Thursday. 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 company has a market capitalization of $5.22 billion, a P/E ratio of 23.02, a P/E/G ratio of 6.08 and a beta of 0.38. IDACORP Inc has a 1-year low of $85.23 and a 1-year high of $103.77.
IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 2nd. The coal producer reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.13. The company had revenue of $350.32 million for the quarter, compared to analysts’ expectations of $298.14 million. IDACORP had a net margin of 16.54% and a return on equity of 9.89%. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, sell-side analysts predict that IDACORP Inc will post 4.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Monday, May 6th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, May 3rd. IDACORP’s dividend payout ratio (DPR) is 56.12%.
Separately, ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a research report on Monday.
In related news, VP Tessia Park sold 1,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $101.50, for a total value of $116,725.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Steven R. Keen sold 4,346 shares of the company’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 transaction of $431,644.72. Following the completion of the transaction, the chief financial officer now owns 11,416 shares in the company, valued at $1,133,837.12. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.
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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