IDACORP Inc (NYSE:IDA) COO Lisa A. Grow Sells 750 Shares

IDACORP Inc (NYSE:IDA) COO Lisa A. Grow sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $108.26, for a total value of $81,195.00. Following the sale, the chief operating officer now owns 14,247 shares of the company’s stock, valued at approximately $1,542,380.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of IDACORP stock traded up $0.33 during trading hours on Thursday, hitting $108.82. 145,427 shares of the company were exchanged, compared to its average volume of 324,780. IDACORP Inc has a 1 year low of $89.31 and a 1 year high of $108.90. The company has a current ratio of 2.03, a quick ratio of 1.64 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $104.09 and a 200-day moving average of $101.15. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 6.29 and a beta of 0.29.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, August 1st. The coal producer reported $1.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.12). IDACORP had a return on equity of 9.40% and a net margin of 16.16%. The company had revenue of $316.90 million for the quarter, compared to analysts’ expectations of $327.38 million. During the same quarter last year, the company earned $1.23 EPS. As a group, research analysts anticipate that IDACORP Inc will post 4.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 5th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, August 2nd. IDACORP’s dividend payout ratio is presently 56.12%.

Several equities research analysts have recently commented on the company. ValuEngine upgraded IDACORP from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Zacks Investment Research cut IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price target for the company. in a research note on Friday, July 26th.

A number of hedge funds have recently made changes to their positions in IDA. Invesco Ltd. grew its holdings in IDACORP by 60.0% during the second quarter. Invesco Ltd. now owns 707,014 shares of the coal producer’s stock worth $71,005,000 after acquiring an additional 265,038 shares during the period. Man Group plc grew its holdings in IDACORP by 97.9% in the second quarter. Man Group plc now owns 372,538 shares of the coal producer’s stock valued at $37,415,000 after purchasing an additional 184,306 shares during the last quarter. Jane Street Group LLC acquired a new stake in IDACORP in the second quarter valued at $16,326,000. Citadel Advisors LLC grew its holdings in IDACORP by 672.4% in the second quarter. Citadel Advisors LLC now owns 171,268 shares of the coal producer’s stock valued at $17,200,000 after purchasing an additional 149,095 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in IDACORP by 4,878.0% in the second quarter. Nuveen Asset Management LLC now owns 142,919 shares of the coal producer’s stock valued at $14,353,000 after purchasing an additional 140,048 shares during the last quarter. 76.72% of the stock is currently owned by hedge funds and other institutional investors.

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.

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