UBS Asset Management Americas Inc. lifted its position in shares of IDACORP, Inc. (NYSE:IDA) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,563 shares of the coal producer’s stock after purchasing an additional 3,705 shares during the quarter. UBS Asset Management Americas Inc. owned 0.06% of IDACORP worth $2,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System boosted its position in shares of IDACORP by 1.0% during the second quarter. Arizona State Retirement System now owns 21,200 shares of the coal producer’s stock worth $1,809,000 after purchasing an additional 200 shares in the last quarter. First Trust Advisors LP boosted its position in shares of IDACORP by 11.6% during the second quarter. First Trust Advisors LP now owns 250,599 shares of the coal producer’s stock worth $21,389,000 after purchasing an additional 25,991 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of IDACORP by 0.8% during the first quarter. Principal Financial Group Inc. now owns 203,606 shares of the coal producer’s stock worth $16,891,000 after purchasing an additional 1,604 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of IDACORP by 4.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 373,448 shares of the coal producer’s stock worth $31,874,000 after purchasing an additional 17,257 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of IDACORP by 17.4% during the second quarter. Russell Investments Group Ltd. now owns 30,098 shares of the coal producer’s stock worth $2,569,000 after purchasing an additional 4,464 shares in the last quarter. 75.95% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/14/idacorp-inc-ida-stake-boosted-by-ubs-asset-management-americas-inc.html.

A number of equities analysts have recently weighed in on IDA shares. Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Thursday, July 27th. BidaskClub cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, KeyCorp reissued a “hold” rating on shares of IDACORP in a research report on Friday, September 1st.

IDACORP, Inc. (IDA) opened at 90.34 on Friday. The company has a market capitalization of $4.55 billion, a PE ratio of 22.82 and a beta of 0.50. The stock’s 50 day moving average is $89.27 and its 200-day moving average is $86.71. IDACORP, Inc. has a 12 month low of $72.93 and a 12 month high of $91.98.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 quarter in the previous year, the company posted $1.12 earnings per share. On average, analysts expect that IDACORP, Inc. will post $4.00 EPS for the current year.

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.

Want to see what other hedge funds are holding IDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDACORP, Inc. (NYSE:IDA).

Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

Receive News & Stock Ratings for IDACORP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDACORP Inc. and related stocks with our FREE daily email newsletter.