Two Sigma Advisers LP Invests $428,000 in IDACORP Inc (IDA) Stock
Two Sigma Advisers LP purchased a new position in shares of IDACORP Inc (NYSE:IDA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 4,600 shares of the coal producer’s stock, valued at approximately $428,000.
Other hedge funds also recently added to or reduced their stakes in the company. Lavaca Capital LLC acquired a new stake in shares of IDACORP during the fourth quarter worth approximately $27,000. Private Capital Group LLC grew 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 worth $36,000 after buying an additional 200 shares in the last quarter. Pearl River Capital LLC acquired a new stake in shares of IDACORP during the fourth quarter worth approximately $53,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of IDACORP during the fourth quarter worth approximately $56,000. Finally, NumerixS Investment Technologies Inc grew its position in shares of IDACORP by 62.5% during the fourth quarter. NumerixS Investment Technologies Inc now owns 1,300 shares of the coal producer’s stock worth $120,000 after buying an additional 500 shares in the last quarter. 76.75% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Thursday, January 10th.
IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, February 21st. The coal producer reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. IDACORP had a net margin of 16.55% and a return on equity of 9.75%. The business had revenue of $311.89 million during the quarter, compared to the consensus estimate of $295.43 million. During the same quarter last year, the company earned $0.77 earnings per share. On average, analysts anticipate that IDACORP Inc will post 4.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Monday, May 6th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, May 3rd. IDACORP’s dividend payout ratio is presently 56.12%.
In other IDACORP news, CFO Steven R. Keen sold 4,346 shares of IDACORP stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $99.32, for a total value of $431,644.72. Following the completion of the transaction, the chief financial officer now owns 11,416 shares of the company’s stock, valued at $1,133,837.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Tessia Park sold 1,150 shares of IDACORP stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $101.50, for a total transaction of $116,725.00. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece was reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/two-sigma-advisers-lp-invests-428000-in-idacorp-inc-ida-stock/2980973.html.
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.
Want to see what other hedge funds are holding IDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDACORP Inc (NYSE:IDA).
Receive News & Ratings for IDACORP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDACORP and related companies with MarketBeat.com's FREE daily email newsletter.