Public Employees Retirement System of Ohio Maintains Stake in IDACORP, Inc. (IDA)
Public Employees Retirement System of Ohio held its position in shares of IDACORP, Inc. (NYSE:IDA) during the first quarter, Holdings Channel reports. The fund owned 2,464 shares of the coal producer’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in IDACORP were worth $204,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IDA. Jaffetilchin Investment Partners LLC bought a new position in shares of IDACORP during the first quarter worth $203,000. Jane Street Group LLC bought a new position in shares of IDACORP during the first quarter worth $209,000. Quadrature Capital Ltd bought a new position in shares of IDACORP during the fourth quarter worth $206,000. Creative Planning raised its position in shares of IDACORP by 39.5% in the first quarter. Creative Planning now owns 2,579 shares of the coal producer’s stock worth $214,000 after buying an additional 730 shares during the last quarter. Finally, World Asset Management Inc raised its position in shares of IDACORP by 1.7% in the first quarter. World Asset Management Inc now owns 3,122 shares of the coal producer’s stock worth $259,000 after buying an additional 51 shares during the last quarter. 78.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDACORP, Inc. (NYSE:IDA) traded down 0.45% during mid-day trading on Thursday, hitting $86.77. 18,365 shares of the stock were exchanged. The stock’s 50 day moving average price is $86.03 and its 200-day moving average price is $84.07. The stock has a market capitalization of $4.37 billion, a P/E ratio of 21.92 and a beta of 0.51. IDACORP, Inc. has a 12-month low of $72.93 and a 12-month high of $90.67.
IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 EPS for the quarter, missing the 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 period last year, the business posted $1.12 earnings per share. On average, equities research analysts expect that IDACORP, Inc. will post $4.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, August 4th. IDACORP’s dividend payout ratio is currently 55.56%.
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A number of brokerages have weighed in on IDA. 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 note on Thursday, July 27th. BidaskClub lowered shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Friday, June 30th.
In related news, VP Lisa A. Grow sold 1,200 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total value of $106,344.00. Following the transaction, the vice president now directly owns 17,248 shares in the company, valued at approximately $1,528,517.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.71% of the stock is owned by company insiders.
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.
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