Los Angeles Capital Management & Equity Research Inc. Raises Holdings in IDACORP, Inc. (IDA)
Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 108.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,382 shares of the coal producer’s stock after buying an additional 9,579 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in IDACORP were worth $1,569,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of IDACORP by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,823 shares of the coal producer’s stock valued at $156,000 after buying an additional 224 shares during the period. LifePlan Financial Group Inc acquired a new stake in shares of IDACORP during the 2nd quarter valued at $205,000. First Citizens Bank & Trust Co. acquired a new stake in shares of IDACORP during the 2nd quarter valued at $205,000. Jane Street Group LLC acquired a new stake in shares of IDACORP during the 1st quarter valued at $209,000. Finally, World Asset Management Inc boosted its stake in shares of IDACORP by 1.7% during the 1st quarter. World Asset Management Inc now owns 3,122 shares of the coal producer’s stock valued at $259,000 after buying an additional 51 shares during the period. 75.95% of the stock is owned by institutional investors.
IDA has been the subject of a number of research reports. Zacks Investment Research raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, KeyCorp reaffirmed a “hold” rating on shares of IDACORP in a research note on Friday, September 1st.
Shares of IDACORP, Inc. (NYSE:IDA) opened at 90.06 on Monday. IDACORP, Inc. has a 1-year low of $72.93 and a 1-year high of $91.98. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 22.75 and a beta of 0.51. The company has a 50 day moving average of $88.37 and a 200 day moving average of $85.71.
IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 3rd. The coal producer reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $333.01 million for the quarter. During the same period last year, the company earned $1.12 earnings per share. On average, equities analysts forecast that IDACORP, Inc. will post $4.00 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Tuesday, August 8th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, August 4th. IDACORP’s dividend payout ratio is 55.56%.
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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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