Russell Investments Group Ltd. boosted its position in IDACORP, Inc. (NYSE:IDA) by 41.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,634 shares of the coal producer’s stock after buying an additional 7,494 shares during the period. Russell Investments Group Ltd. owned 0.05% of IDACORP worth $2,127,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its stake in IDACORP by 20.7% in the fourth quarter. Macquarie Group Ltd. now owns 170,600 shares of the coal producer’s stock worth $13,742,000 after buying an additional 29,300 shares during the last quarter. Teachers Advisors LLC increased its stake in IDACORP by 2.3% in the fourth quarter. Teachers Advisors LLC now owns 83,365 shares of the coal producer’s stock worth $6,715,000 after buying an additional 1,870 shares during the last quarter. Quadrature Capital Ltd bought a new stake in IDACORP during the fourth quarter worth $206,000. Putnam Investments LLC increased its stake in IDACORP by 1.2% in the fourth quarter. Putnam Investments LLC now owns 83,874 shares of the coal producer’s stock worth $6,756,000 after buying an additional 1,000 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in IDACORP by 111.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 645,395 shares of the coal producer’s stock worth $51,987,000 after buying an additional 340,722 shares during the last quarter. 78.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of IDACORP, Inc. (IDA) opened at 89.53 on Friday. The firm has a market capitalization of $4.51 billion, a P/E ratio of 21.90 and a beta of 0.53. IDACORP, Inc. has a 12-month low of $72.93 and a 12-month high of $90.67. The firm’s 50-day moving average price is $86.00 and its 200-day moving average price is $82.27.
IDACORP (NYSE:IDA) last announced its earnings results on Thursday, May 4th. The coal producer reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. IDACORP had a net margin of 16.02% and a return on equity of 9.60%. The firm had revenue of $302.54 million for the quarter. During the same quarter in the previous year, the company earned $0.51 EPS. Equities analysts predict that IDACORP, Inc. will post $3.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Friday, May 5th were given a dividend of $0.55 per share. The ex-dividend date was Wednesday, May 3rd. This represents a $2.20 annualized dividend and a dividend yield of 2.46%. IDACORP’s dividend payout ratio is 53.79%.
Separately, Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th.
In related news, CFO Steven R. Keen sold 2,966 shares of the stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $83.04, for a total transaction of $246,296.64. Following the sale, the chief financial officer now owns 21,686 shares in the company, valued at approximately $1,800,805.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lisa A. Grow sold 1,200 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total transaction of $106,344.00. Following the sale, the vice president now owns 17,248 shares in the company, valued at approximately $1,528,517.76. The disclosure for this sale can be found here. Company insiders own 0.71% of the company’s stock.
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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