Cambridge Investment Research Advisors Inc. Purchases 590 Shares of IDACORP, Inc. (IDA)
Cambridge Investment Research Advisors Inc. lifted its position in shares of IDACORP, Inc. (NYSE:IDA) by 19.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,620 shares of the coal producer’s stock after acquiring an additional 590 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in IDACORP were worth $309,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of IDACORP by 18,568.5% during the first quarter. BlackRock Inc. now owns 7,810,350 shares of the coal producer’s stock worth $647,945,000 after acquiring an additional 7,768,513 shares during the last quarter. Vanguard Group Inc. grew its position in shares of IDACORP by 3.6% during the first quarter. Vanguard Group Inc. now owns 4,579,299 shares of the coal producer’s stock worth $379,899,000 after acquiring an additional 159,218 shares during the last quarter. State Street Corp grew its position in shares of IDACORP by 1.0% during the first quarter. State Street Corp now owns 1,714,649 shares of the coal producer’s stock worth $142,250,000 after acquiring an additional 17,562 shares during the last quarter. Schroder Investment Management Group grew its position in shares of IDACORP by 8.2% during the first quarter. Schroder Investment Management Group now owns 1,046,756 shares of the coal producer’s stock worth $86,828,000 after acquiring an additional 79,517 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of IDACORP by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 746,349 shares of the coal producer’s stock worth $63,703,000 after acquiring an additional 5,646 shares during the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.
IDA has been the subject of several recent research reports. Zacks Investment Research upgraded shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target for the company in a research report on Thursday, July 27th. BidaskClub downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a report on Friday, September 1st.
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Shares of IDACORP, Inc. (NYSE IDA) opened at 90.06 on Friday. The company has a 50-day moving average of $88.37 and a 200 day moving average of $85.71. The firm has a market cap of $4.54 billion, a P/E ratio of 22.75 and a beta of 0.51. IDACORP, Inc. has a 12-month low of $72.93 and a 12-month high of $91.98.
IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.07). IDACORP had a return on equity of 9.20% and a net margin of 15.31%. The company had revenue of $333.01 million for the quarter. During the same period in the prior year, the company earned $1.12 EPS. Equities analysts predict that IDACORP, Inc. will post $4.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 8th were paid 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 yield of 2.44%. IDACORP’s dividend payout ratio is currently 55.56%.
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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