IdaCorp Inc. (IDA) Sees Unusually-High Trading Volume
Shares of IdaCorp Inc. (NYSE:IDA) saw strong trading volume on Wednesday . 327,416 shares changed hands during mid-day trading, an increase of 79% from the previous session’s volume of 182,424 shares.The stock last traded at $76.81 and had previously closed at $76.13.
Separately, Zacks Investment Research cut shares of IdaCorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th.
The stock’s 50 day moving average price is $80.04 and its 200 day moving average price is $74.74. The stock has a market cap of $3.87 billion and a P/E ratio of 20.65.
IdaCorp (NYSE:IDA) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.13. During the same quarter in the previous year, the business earned $1.31 earnings per share. Equities analysts predict that IdaCorp Inc. will post $3.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Wednesday, August 3rd.
In other IdaCorp news, Director J Lamont Keen sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $74.80, for a total value of $299,200.00. Following the completion of the transaction, the director now directly owns 60,555 shares in the company, valued at $4,529,514. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rex Blackburn sold 3,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00. Following the completion of the transaction, the insider now owns 27,456 shares of the company’s stock, valued at $2,238,487.68. The disclosure for this sale can be found here.
Other institutional investors have recently made changes to their positions in the company. Russell Frank Co increased its position in shares of IdaCorp by 109.8% in the fourth quarter. Russell Frank Co now owns 42,698 shares of the company’s stock worth $2,967,000 after buying an additional 22,343 shares in the last quarter. Schroder Investment Management Group increased its position in shares of IdaCorp by 3.5% in the fourth quarter. Schroder Investment Management Group now owns 317,300 shares of the company’s stock worth $21,576,000 after buying an additional 10,600 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of IdaCorp by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 161,260 shares of the company’s stock worth $10,966,000 after buying an additional 7,323 shares in the last quarter. US Bancorp DE increased its position in shares of IdaCorp by 37.1% in the fourth quarter. US Bancorp DE now owns 21,921 shares of the company’s stock worth $1,491,000 after buying an additional 5,935 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of IdaCorp by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 859,354 shares of the company’s stock worth $58,439,000 after buying an additional 3,073 shares in the last quarter.
IDACORP, Inc is a holding company. The Company’s operating subsidiary is Idaho Power Company (Idaho Power), which is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity. Its segments are utility operations and all other. The utility operations segment consists of the regulated operations of Idaho Power, which include the generation, transmission, distribution, purchase and sale of electricity, and Idaho Energy Resources Co (IERCo), a subsidiary of Idaho Power and a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger generating plant owned in part by Idaho Power.
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