IDACORP, Inc. (IDA) Shares Sold by Franklin Resources Inc.
Franklin Resources Inc. lowered its stake in IDACORP, Inc. (NYSE:IDA) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,303,008 shares of the coal producer’s stock after selling 240,142 shares during the period. Franklin Resources Inc. owned 2.59% of IDACORP worth $111,211,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of IDACORP by 14.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock worth $156,000 after buying an additional 224 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of IDACORP in the second quarter worth $205,000. LifePlan Financial Group Inc purchased a new position in shares of IDACORP in the second quarter worth $205,000. Bienville Capital Management LLC purchased a new position in shares of IDACORP in the second quarter worth $205,000. Finally, Jane Street Group LLC purchased a new position in shares of IDACORP in the first quarter worth $209,000. 75.95% of the stock is owned by institutional investors and hedge funds.
Shares of IDACORP, Inc. (IDA) opened at 91.88 on Tuesday. The stock has a 50 day moving average of $87.90 and a 200-day moving average of $85.51. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 23.21 and a beta of 0.51. IDACORP, Inc. has a 1-year low of $72.93 and a 1-year high of $91.98.
IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.06 by $0.07. The company had revenue of $333.01 million for the quarter. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. During the same period in the previous year, the company earned $1.12 EPS. Equities analysts anticipate that IDACORP, Inc. will post $4.00 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 8th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $2.20 annualized dividend and a dividend yield of 2.39%. IDACORP’s dividend payout ratio is presently 55.56%.
A number of research firms have recently weighed in on IDA. KeyCorp reiterated a “hold” rating on shares of IDACORP in a research note on Friday, September 1st. BidaskClub upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Zacks Investment Research lowered shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th.
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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