NEXT Financial Group Inc Buys Shares of 17,667 IDACORP Inc (NYSE:IDA)

NEXT Financial Group Inc bought a new stake in shares of IDACORP Inc (NYSE:IDA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 17,667 shares of the coal producer’s stock, valued at approximately $1,774,000.

A number of other institutional investors also recently added to or reduced their stakes in IDA. State Board of Administration of Florida Retirement System grew its stake in shares of IDACORP by 2.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,519 shares of the coal producer’s stock worth $2,441,000 after purchasing an additional 520 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of IDACORP by 1.8% in the 1st quarter. Nordea Investment Management AB now owns 45,220 shares of the coal producer’s stock worth $4,501,000 after purchasing an additional 779 shares during the last quarter. Swiss National Bank grew its stake in shares of IDACORP by 3.0% in the 1st quarter. Swiss National Bank now owns 91,800 shares of the coal producer’s stock worth $9,138,000 after purchasing an additional 2,700 shares during the last quarter. Radnor Capital Management LLC acquired a new position in shares of IDACORP in the 1st quarter worth approximately $205,000. Finally, Retirement Systems of Alabama grew its stake in shares of IDACORP by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 65,586 shares of the coal producer’s stock worth $6,528,000 after purchasing an additional 250 shares during the last quarter. 76.35% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the stock. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Zacks Investment Research cut shares of Green Plains Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 26th.

Shares of IDA opened at $102.22 on Wednesday. The stock has a 50 day simple moving average of $103.16. The firm has a market cap of $5.16 billion, a PE ratio of 22.77, a P/E/G ratio of 6.01 and a beta of 0.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.11 and a quick ratio of 1.72. IDACORP Inc has a 12-month low of $89.31 and a 12-month high of $106.13.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, May 2nd. The coal producer reported $0.84 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.72 EPS. On average, equities research analysts forecast that IDACORP Inc will post 4.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 5th will be paid a $0.63 dividend. The ex-dividend date is Friday, August 2nd. This represents a $2.52 annualized dividend and a dividend yield of 2.47%. IDACORP’s dividend payout ratio is currently 56.12%.

In other news, VP Tessia Park sold 280 shares of IDACORP stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $103.29, for a total value of $28,921.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

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.

Featured Story: Quiet Period

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).

Institutional Ownership by Quarter for IDACORP (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.