BidaskClub cut shares of IDACORP, Inc. (NYSE:IDA) from a hold rating to a sell rating in a research note issued to investors on Tuesday, July 11th.

Separately, Zacks Investment Research raised IDACORP from a sell rating to a hold rating in a research report on Friday, July 7th.

IDACORP (NYSE:IDA) opened at 86.56 on Tuesday. The firm has a market cap of $4.36 billion, a PE ratio of 21.17 and a beta of 0.51. IDACORP has a 52 week low of $72.93 and a 52 week high of $90.67. The stock has a 50 day moving average of $86.40 and a 200 day moving average of $83.79.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.07. IDACORP had a return on equity of 9.23% and a net margin of 15.31%. The business had revenue of $333.01 million during the quarter. During the same quarter in the prior year, the company posted $1.12 earnings per share. Analysts anticipate that IDACORP will post $4.00 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 8th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, August 4th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.54%. IDACORP’s dividend payout ratio is presently 55.56%.

In related news, VP Lisa A. Grow sold 1,200 shares of the business’s stock in a transaction 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 directly owns 17,248 shares in the company, valued at approximately $1,528,517.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. First Midwest Bank Trust Division raised its stake in IDACORP by 0.5% in the first quarter. First Midwest Bank Trust Division now owns 9,675 shares of the coal producer’s stock worth $803,000 after buying an additional 45 shares during the last quarter. World Asset Management Inc raised its position in shares of IDACORP by 1.7% in the first quarter. World Asset Management Inc now owns 3,122 shares of the coal producer’s stock worth $259,000 after buying an additional 51 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of IDACORP by 1.6% in the second quarter. Capstone Asset Management Co. now owns 3,872 shares of the coal producer’s stock worth $330,000 after buying an additional 60 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of IDACORP by 1.8% in the second quarter. Teacher Retirement System of Texas now owns 4,035 shares of the coal producer’s stock worth $344,000 after buying an additional 73 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of IDACORP by 0.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 10,700 shares of the coal producer’s stock worth $862,000 after buying an additional 100 shares in the last quarter. Institutional investors own 78.48% of the company’s stock.

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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