Paloma Partners Management Co raised its position in shares of IDACORP Inc (NYSE:IDA) by 1,910.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 144,145 shares of the coal producer’s stock after purchasing an additional 136,974 shares during the quarter. Paloma Partners Management Co’s holdings in IDACORP were worth $14,476,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc acquired a new stake in shares of IDACORP during the 2nd quarter worth approximately $50,000. FNY Investment Advisers LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth approximately $80,000. Liberty Wealth Management LLC grew its position in shares of IDACORP by 159.6% during the 2nd 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. Hilton Capital Management LLC acquired a new stake in shares of IDACORP during the 1st quarter worth approximately $102,000. Finally, Pearl River Capital LLC grew its position in shares of IDACORP by 853.8% during the 2nd 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. 98.25% of the stock is owned by institutional investors and hedge funds.
In related news, COO Lisa A. Grow sold 750 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $108.26, for a total value of $81,195.00. Following the transaction, the chief operating officer now directly owns 14,247 shares in the company, valued at approximately $1,542,380.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is owned by company insiders.
Shares of IDA stock traded up $0.02 during trading hours on Thursday, hitting $110.37. 5,022 shares of the company were exchanged, compared to its average volume of 309,785. The firm has a market cap of $4.32 billion, a P/E ratio of 24.58, a P/E/G ratio of 6.27 and a beta of 0.24. IDACORP Inc has a fifty-two week low of $89.31 and a fifty-two week high of $111.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.64 and a current ratio of 2.03. The company has a 50 day simple moving average of $107.22 and a two-hundred day simple moving average of $102.65.
IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, August 1st. The coal producer reported $1.05 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.12). The company had revenue of $316.90 million for the quarter, compared to analyst estimates 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 business earned $1.23 EPS. As a group, sell-side analysts expect that IDACORP Inc will post 4.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 5th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, August 2nd. IDACORP’s dividend payout ratio is currently 56.12%.
Separately, Zacks Investment Research downgraded 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.
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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