Commonwealth Equity Services LLC Has $1.25 Million Stock Position in IDACORP Inc (NYSE:IDA)

Commonwealth Equity Services LLC raised its holdings in IDACORP Inc (NYSE:IDA) by 8.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 11,127 shares of the coal producer’s stock after acquiring an additional 876 shares during the period. Commonwealth Equity Services LLC’s holdings in IDACORP were worth $1,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. NumerixS Investment Technologies Inc acquired a new stake in shares of IDACORP during the second quarter worth $50,000. FNY Investment Advisers LLC acquired a new stake in shares of IDACORP during the second quarter worth $80,000. Liberty Wealth Management LLC increased its position in shares of IDACORP by 159.6% during the second quarter. Liberty Wealth Management LLC now owns 976 shares of the coal producer’s stock worth $98,000 after buying an additional 600 shares during the period. Pearl River Capital LLC increased its position in shares of IDACORP by 853.8% during the second quarter. Pearl River Capital LLC now owns 1,240 shares of the coal producer’s stock worth $125,000 after buying an additional 1,110 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of IDACORP during the third quarter worth $156,000. Hedge funds and other institutional investors own 98.27% of the company’s stock.

In related news, COO Lisa A. Grow sold 750 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $108.26, for a total transaction of $81,195.00. Following the transaction, the chief operating officer now directly owns 14,247 shares of the company’s stock, valued at $1,542,380.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by corporate insiders.

IDA has been the subject of several recent analyst reports. Bank of America upgraded shares of IDACORP from an “underperform” rating to a “neutral” rating in a research report on Monday, November 4th. Zacks Investment Research cut shares of IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price objective for the company. in a research report on Friday, July 26th. ValuEngine cut shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Sidoti began coverage on shares of IDACORP in a research report on Friday, September 27th. They set a “neutral” rating and a $114.00 price objective for the company. Finally, Williams Capital raised shares of IDACORP from a “sell” rating to a “hold” rating and increased their target price for the stock from $90.00 to $104.00 in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $109.75.

Shares of NYSE IDA opened at $104.28 on Thursday. The firm has a market cap of $5.18 billion, a PE ratio of 23.22, a P/E/G ratio of 5.99 and a beta of 0.18. IDACORP Inc has a 12-month low of $89.31 and a 12-month high of $114.01. The company’s fifty day simple moving average is $109.10 and its 200 day simple moving average is $105.48. The company has a quick ratio of 1.67, a current ratio of 2.08 and a debt-to-equity ratio of 0.74.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 31st. The coal producer reported $1.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.93 by ($0.15). The company had revenue of $386.32 million for the quarter, compared to the consensus estimate of $396.28 million. IDACORP had a return on equity of 8.79% and a net margin of 15.52%. During the same period in the prior year, the company earned $2.02 earnings per share. On average, equities analysts predict that IDACORP Inc will post 4.46 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 5th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, November 4th. This is a positive change from IDACORP’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 2.57%. IDACORP’s dividend payout ratio is currently 59.69%.

About IDACORP

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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