First Trust Advisors LP Sells 1,677 Shares of IDACORP, Inc. (IDA)
First Trust Advisors LP decreased its position in IDACORP, Inc. (NYSE:IDA) by 0.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 248,922 shares of the coal producer’s stock after selling 1,677 shares during the quarter. First Trust Advisors LP owned approximately 0.49% of IDACORP worth $21,888,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after acquiring an additional 224 shares during the period. Advisor Group Inc. increased its position in IDACORP by 6.5% in the second quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock worth $156,000 after buying an additional 111 shares in the last quarter. Riverhead Capital Management LLC increased its position in IDACORP by 77.5% in the second quarter. Riverhead Capital Management LLC now owns 2,130 shares of the coal producer’s stock worth $182,000 after buying an additional 930 shares in the last quarter. ETRADE Capital Management LLC purchased a new stake in IDACORP in the second quarter worth about $200,000. Finally, LifePlan Financial Group Inc purchased a new stake in IDACORP in the second quarter worth about $205,000. 76.01% of the stock is currently owned by institutional investors.
A number of analysts have commented on the company. KeyCorp restated a “hold” rating on shares of IDACORP in a research report on Friday, October 20th. Zacks Investment Research cut IDACORP from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, BidaskClub upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, August 25th.
Shares of IDACORP, Inc. (IDA) opened at $92.71 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.20 and a quick ratio of 1.56. The stock has a market capitalization of $4.67 billion, a P/E ratio of 22.53, a PEG ratio of 5.02 and a beta of 0.53.
IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, November 2nd. The coal producer reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.14. The business had revenue of $408.32 million during the quarter. IDACORP had a return on equity of 9.53% and a net margin of 15.46%. During the same quarter in the previous year, the company earned $1.65 EPS. analysts forecast that IDACORP, Inc. will post 4.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 6th will be given a $0.59 dividend. This is a boost from IDACORP’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $2.36 dividend on an annualized basis and a yield of 2.55%. IDACORP’s dividend payout ratio is presently 53.53%.
IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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