IDACORP Inc (IDA) Holdings Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in IDACORP Inc (NYSE:IDA) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 116,187 shares of the coal producer’s stock after selling 3,836 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.23% of IDACORP worth $10,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc grew its position in IDACORP by 154.9% in the 1st quarter. IFP Advisors Inc now owns 1,881 shares of the coal producer’s stock worth $166,000 after purchasing an additional 1,143 shares during the last quarter. Two Sigma Securities LLC bought a new position in IDACORP in the 4th quarter worth about $202,000. Cypress Wealth Advisors LLC bought a new position in IDACORP in the 4th quarter worth about $203,000. Pitcairn Co. bought a new position in IDACORP in the 4th quarter worth about $209,000. Finally, Zeke Capital Advisors LLC bought a new position in IDACORP in the 4th quarter worth about $271,000. Hedge funds and other institutional investors own 76.55% of the company’s stock.

In other news, Director Christine King sold 2,900 shares of the stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $87.21, for a total value of $252,909.00. Following the completion of the transaction, the director now directly owns 13,381 shares in the company, valued at $1,166,957.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.71% of the company’s stock.

Several research analysts have commented on IDA shares. Zacks Investment Research upgraded shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Thursday, April 5th. ValuEngine upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.00.

IDACORP stock opened at $92.12 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $4.65 billion, a PE ratio of 21.88, a P/E/G ratio of 5.69 and a beta of 0.40. IDACORP Inc has a 12-month low of $79.59 and a 12-month high of $100.04.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 3rd. The coal producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $310.11 million during the quarter, compared to analysts’ expectations of $302.93 million. IDACORP had a net margin of 15.88% and a return on equity of 9.62%. During the same period last year, the firm posted $0.66 earnings per share. sell-side analysts anticipate that IDACORP Inc will post 4.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 30th. Stockholders of record on Monday, May 7th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Friday, May 4th. IDACORP’s dividend payout ratio (DPR) is presently 56.06%.

IDACORP Company Profile

IDACORP, Inc, through its subsidiary, Idaho Power Company, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. It operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon, as well as 3 natural gas-fired plants in southern Idaho; and owns interests in 3 coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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