California State Teachers Retirement System Sells 8,706 Shares of IDACORP Inc (IDA)
California State Teachers Retirement System cut its position in shares of IDACORP Inc (NYSE:IDA) by 9.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,896 shares of the coal producer’s stock after selling 8,706 shares during the quarter. California State Teachers Retirement System owned 0.16% of IDACORP worth $7,113,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in IDACORP by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 393,186 shares of the coal producer’s stock worth $34,573,000 after buying an additional 19,738 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in IDACORP during the second quarter valued at approximately $265,000. The Manufacturers Life Insurance Company boosted its holdings in IDACORP by 1.0% during the second quarter. The Manufacturers Life Insurance Company now owns 110,997 shares of the coal producer’s stock valued at $9,474,000 after purchasing an additional 1,108 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in IDACORP by 11.5% during the second quarter. Parametric Portfolio Associates LLC now owns 169,343 shares of the coal producer’s stock valued at $14,453,000 after purchasing an additional 17,447 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in IDACORP by 17.4% during the second quarter. Russell Investments Group Ltd. now owns 30,098 shares of the coal producer’s stock valued at $2,569,000 after purchasing an additional 4,464 shares in the last quarter. 75.51% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a report on Friday, September 1st. Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a report on Thursday, November 9th.
IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, November 2nd. The coal producer reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.14. The company had revenue of $408.32 million for the quarter. IDACORP had a return on equity of 9.44% and a net margin of 15.46%. During the same period in the previous year, the firm posted $1.65 earnings per share. equities research analysts predict that IDACORP Inc will post 4.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 6th were issued a $0.59 dividend. This is an increase from IDACORP’s previous quarterly dividend of $0.55. This represents a $2.36 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, November 3rd. IDACORP’s payout ratio is presently 57.42%.
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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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