Citigroup Inc. Has $579,000 Stake in IDACORP, Inc. (IDA)
Citigroup Inc. lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 50.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,795 shares of the coal producer’s stock after selling 6,967 shares during the quarter. Citigroup Inc.’s holdings in IDACORP were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of IDACORP during the 2nd quarter worth $1,190,000. UBS Asset Management Americas Inc. boosted its stake in shares of IDACORP by 12.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 32,563 shares of the coal producer’s stock worth $2,779,000 after acquiring an additional 3,705 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of IDACORP by 0.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 94,953 shares of the coal producer’s stock worth $8,104,000 after acquiring an additional 449 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of IDACORP by 9.3% during the 2nd quarter. New York State Common Retirement Fund now owns 62,774 shares of the coal producer’s stock worth $5,358,000 after acquiring an additional 5,354 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its stake in shares of IDACORP by 7.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,959 shares of the coal producer’s stock worth $2,898,000 after acquiring an additional 2,299 shares during the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.
Shares of IDACORP, Inc. (NYSE:IDA) opened at 90.67 on Friday. The company has a market capitalization of $4.57 billion, a P/E ratio of 22.90 and a beta of 0.50. IDACORP, Inc. has a 12 month low of $72.93 and a 12 month high of $91.98. The stock’s 50 day moving average is $89.23 and its 200 day moving average is $86.66.
IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $333.01 million for the quarter. During the same quarter in the previous year, the business earned $1.12 earnings per share. On average, equities analysts predict that IDACORP, Inc. will post $4.00 EPS for the current fiscal year.
Several research analysts have recently weighed in on IDA shares. BidaskClub cut shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Zacks Investment Research upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Finally, KeyCorp restated a “hold” rating on shares of IDACORP in a research report on Friday, September 1st.
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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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