IDACORP, Inc. (IDA) Position Maintained by Texas Yale Capital Corp.
Texas Yale Capital Corp. continued to hold its stake in shares of IDACORP, Inc. (NYSE:IDA) during the second quarter, Holdings Channel reports. The institutional investor owned 30,645 shares of the coal producer’s stock at the end of the second quarter. Texas Yale Capital Corp.’s holdings in IDACORP were worth $2,616,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Swiss National Bank increased its stake in shares of IDACORP by 0.6% in the first quarter. Swiss National Bank now owns 83,300 shares of the coal producer’s stock valued at $6,911,000 after buying an additional 500 shares during the period. Principal Financial Group Inc. increased its stake in shares of IDACORP by 0.8% in the first quarter. Principal Financial Group Inc. now owns 203,606 shares of the coal producer’s stock valued at $16,891,000 after buying an additional 1,604 shares during the period. Pacer Advisors Inc. increased its stake in shares of IDACORP by 22.2% in the first quarter. Pacer Advisors Inc. now owns 4,974 shares of the coal producer’s stock valued at $413,000 after buying an additional 905 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of IDACORP by 8.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 356,191 shares of the coal producer’s stock valued at $29,550,000 after buying an additional 27,163 shares during the period. Finally, Clean Yield Group increased its stake in shares of IDACORP by 31.1% in the second quarter. Clean Yield Group now owns 3,801 shares of the coal producer’s stock valued at $320,000 after buying an additional 901 shares during the period. 78.73% of the stock is currently owned by institutional investors.
IDACORP, Inc. (NYSE:IDA) opened at 86.83 on Friday. The stock has a market cap of $4.38 billion, a P/E ratio of 21.93 and a beta of 0.51. The company’s 50 day moving average is $85.99 and its 200 day moving average is $84.38. IDACORP, Inc. has a 52 week low of $72.93 and a 52 week high of $90.67.
IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 3rd. The coal producer reported $0.99 EPS for the quarter, missing the consensus estimate of $1.06 by $0.07. IDACORP had a return on equity of 9.20% and a net margin of 15.31%. The firm had revenue of $333.01 million during the quarter. During the same period last year, the firm posted $1.12 EPS. Equities analysts predict that IDACORP, Inc. will post $4.00 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, August 4th. IDACORP’s dividend payout ratio is currently 55.56%.
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IDA has been the topic of several recent research reports. Zacks Investment Research raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th.
In related news, VP Lisa A. Grow sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $88.62, for a total transaction of $106,344.00. Following the completion of the sale, the vice president now directly owns 17,248 shares in the company, valued at $1,528,517.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.71% of the company’s stock.
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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