American Century Companies Inc. lifted its position in shares of IDACORP, Inc. (NYSE:IDA – Free Report) by 35.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,491 shares of the energy company’s stock after purchasing an additional 50,242 shares during the quarter. American Century Companies Inc. owned 0.38% of IDACORP worth $20,928,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of IDACORP by 0.4% during the first quarter. Rhumbline Advisers now owns 180,811 shares of the energy company’s stock worth $19,587,000 after purchasing an additional 796 shares during the period. Commonwealth Equity Services LLC raised its position in shares of IDACORP by 4.8% during the first quarter. Commonwealth Equity Services LLC now owns 15,505 shares of the energy company’s stock worth $1,679,000 after purchasing an additional 707 shares during the period. Guggenheim Capital LLC raised its position in shares of IDACORP by 12.5% during the first quarter. Guggenheim Capital LLC now owns 45,566 shares of the energy company’s stock worth $4,936,000 after purchasing an additional 5,074 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in shares of IDACORP during the first quarter worth approximately $442,000. Finally, Pring Turner Capital Group Inc. raised its position in shares of IDACORP by 3.8% during the first quarter. Pring Turner Capital Group Inc. now owns 24,028 shares of the energy company’s stock worth $2,603,000 after purchasing an additional 877 shares during the period. 83.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on IDA. Wells Fargo & Company lowered their price target on IDACORP from $112.00 to $108.00 and set an “equal weight” rating for the company in a research report on Friday, August 4th. StockNews.com began coverage on IDACORP in a research report on Sunday, August 20th. They issued a “sell” rating for the company. Finally, Mizuho lowered their price target on IDACORP from $107.00 to $105.00 in a research report on Wednesday, August 9th.
IDACORP Stock Up 0.1 %
Shares of NYSE:IDA opened at $96.47 on Thursday. The company has a market capitalization of $4.88 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 5.18 and a beta of 0.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.57 and a quick ratio of 1.27. The business has a fifty day moving average price of $100.49 and a two-hundred day moving average price of $104.48. IDACORP, Inc. has a 1 year low of $92.40 and a 1 year high of $112.96.
IDACORP (NYSE:IDA – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.13. The firm had revenue of $413.84 million during the quarter, compared to the consensus estimate of $359.32 million. IDACORP had a return on equity of 9.67% and a net margin of 15.31%. During the same quarter in the prior year, the company earned $1.27 EPS. Analysts forecast that IDACORP, Inc. will post 5.03 earnings per share for the current year.
IDACORP Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Wednesday, August 2nd will be paid a $0.79 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $3.16 dividend on an annualized basis and a yield of 3.28%. IDACORP’s dividend payout ratio (DPR) is presently 58.63%.
IDACORP Profile
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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