Russell Investments Group Ltd. Has $6.05 Million Stake in IDACORP Inc (NYSE:IDA)

Russell Investments Group Ltd. raised its stake in shares of IDACORP Inc (NYSE:IDA) by 12.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 60,221 shares of the coal producer’s stock after purchasing an additional 6,553 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of IDACORP worth $6,054,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of IDACORP by 0.4% in the 1st quarter. BlackRock Inc. now owns 8,298,239 shares of the coal producer’s stock worth $826,005,000 after buying an additional 29,568 shares during the last quarter. Northern Trust Corp boosted its stake in shares of IDACORP by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,117,887 shares of the coal producer’s stock worth $111,274,000 after buying an additional 7,295 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of IDACORP by 18.2% in the 2nd quarter. Wells Fargo & Company MN now owns 633,503 shares of the coal producer’s stock worth $63,623,000 after buying an additional 97,645 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of IDACORP by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 547,294 shares of the coal producer’s stock worth $50,931,000 after buying an additional 37,621 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of IDACORP by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 378,863 shares of the coal producer’s stock worth $35,256,000 after buying an additional 7,007 shares during the last quarter. Institutional investors and hedge funds own 98.29% of the company’s stock.

Shares of NYSE IDA traded down $0.49 during midday trading on Friday, reaching $109.12. The company’s stock had a trading volume of 5,915 shares, compared to its average volume of 302,435. IDACORP Inc has a 12-month low of $89.31 and a 12-month high of $111.83. The firm has a 50 day moving average price of $106.38 and a 200-day moving average price of $102.33. The stock has a market capitalization of $4.20 billion, a P/E ratio of 24.31, a PEG ratio of 6.22 and a beta of 0.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.03 and a quick ratio of 1.64.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, August 1st. The coal producer reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.12). The company had revenue of $316.90 million during the quarter, compared to the consensus estimate of $327.38 million. IDACORP had a return on equity of 9.40% and a net margin of 16.16%. During the same period last year, the firm posted $1.23 EPS. On average, equities analysts predict that IDACORP Inc will post 4.48 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were issued a $0.63 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.31%. IDACORP’s dividend payout ratio (DPR) is presently 56.12%.

Separately, Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating and set a $108.00 target price on the stock. in a research note on Friday, July 26th.

In related news, COO Lisa A. Grow sold 750 shares of IDACORP stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $108.26, for a total value of $81,195.00. Following the sale, the chief operating officer now owns 14,247 shares of the company’s stock, valued at approximately $1,542,380.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

IDACORP 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. The company operates 17 hydroelectric generating plants located in southern Idaho and eastern Oregon; 3 natural gas-fired plants in southern Idaho; and 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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