Coann Capital LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,630 shares of the energy company’s stock, valued at approximately $4,462,000. IDACORP accounts for about 3.8% of Coann Capital LLC’s portfolio, making the stock its 14th biggest position. Coann Capital LLC owned 0.09% of IDACORP at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in IDACORP by 9,119.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,048,825 shares of the energy company’s stock valued at $196,749,000 after acquiring an additional 2,026,602 shares during the period. Alliancebernstein L.P. increased its stake in IDACORP by 61.6% in the first quarter. Alliancebernstein L.P. now owns 1,327,914 shares of the energy company’s stock valued at $132,752,000 after acquiring an additional 506,037 shares during the period. GW&K Investment Management LLC boosted its position in IDACORP by 5.7% in the first quarter. GW&K Investment Management LLC now owns 817,722 shares of the energy company’s stock valued at $81,748,000 after buying an additional 44,321 shares in the last quarter. Bank of New York Mellon Corp boosted its position in IDACORP by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 707,623 shares of the energy company’s stock valued at $67,953,000 after buying an additional 39,654 shares in the last quarter. Finally, Northern Trust Corp boosted its position in IDACORP by 2.8% in the fourth quarter. Northern Trust Corp now owns 552,629 shares of the energy company’s stock valued at $53,069,000 after buying an additional 14,999 shares in the last quarter. 77.87% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Williams Capital restated a “buy” rating on shares of IDACORP in a research report on Friday, April 23rd. Bank of America restated a “neutral” rating and issued a $105.00 price target on shares of IDACORP in a research report on Monday, April 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $100.00.
IDACORP (NYSE:IDA) last announced its earnings results on Thursday, April 29th. The energy company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. IDACORP had a net margin of 17.79% and a return on equity of 9.58%. The company had revenue of $316.05 million for the quarter. As a group, sell-side analysts predict that IDACORP, Inc. will post 4.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Wednesday, May 5th were issued a $0.71 dividend. The ex-dividend date was Tuesday, May 4th. This represents a $2.84 annualized dividend and a yield of 2.83%. IDACORP’s dividend payout ratio is currently 60.55%.
IDACORP, Inc engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.
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