Strs Ohio reduced its position in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 18.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,951 shares of the energy company’s stock after selling 22,823 shares during the quarter. Strs Ohio owned 0.20% of IDACORP worth $10,719,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tributary Capital Management LLC lifted its stake in IDACORP by 3.2% in the 1st quarter. Tributary Capital Management LLC now owns 182,451 shares of the energy company’s stock valued at $19,765,000 after buying an additional 5,686 shares in the last quarter. Everhart Financial Group Inc. purchased a new position in IDACORP in the 1st quarter valued at about $228,000. Parallel Advisors LLC lifted its stake in IDACORP by 100.0% in the 1st quarter. Parallel Advisors LLC now owns 976 shares of the energy company’s stock valued at $106,000 after buying an additional 488 shares in the last quarter. D.A. Davidson & CO. lifted its stake in IDACORP by 50.6% in the 1st quarter. D.A. Davidson & CO. now owns 3,773 shares of the energy company’s stock valued at $409,000 after buying an additional 1,267 shares in the last quarter. Finally, Inspire Investing LLC lifted its stake in IDACORP by 15.6% in the 1st quarter. Inspire Investing LLC now owns 2,517 shares of the energy company’s stock valued at $273,000 after buying an additional 339 shares in the last quarter. 81.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have commented on IDA. Mizuho downgraded shares of IDACORP from a “buy” rating to a “neutral” rating and cut their price objective for the company from $117.00 to $107.00 in a report on Tuesday, April 4th. StockNews.com began coverage on shares of IDACORP in a report on Thursday, May 18th. They issued a “sell” rating for the company.
IDACORP Stock Down 0.5 %
IDACORP (NYSE:IDA – Get Free Report) last announced its quarterly earnings results on Thursday, May 4th. The energy company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $429.66 million during the quarter, compared to the consensus estimate of $346.62 million. IDACORP had a net margin of 15.54% and a return on equity of 9.65%. During the same quarter last year, the firm earned $0.91 EPS. As a group, analysts forecast that IDACORP, Inc. will post 5.07 earnings per share for the current fiscal year.
IDACORP Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 3rd were issued a dividend of $0.79 per share. The ex-dividend date was Tuesday, May 2nd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.05%. IDACORP’s dividend payout ratio is currently 59.51%.
About IDACORP
IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.
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