Renaissance Technologies LLC lowered its stake in shares of IDACORP, Inc. (NYSE:IDA – Get Rating) by 21.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,399 shares of the energy company’s stock after selling 26,000 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of IDACORP worth $9,346,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Moors & Cabot Inc. grew its holdings in shares of IDACORP by 4.7% during the 2nd quarter. Moors & Cabot Inc. now owns 2,077 shares of the energy company’s stock worth $220,000 after purchasing an additional 93 shares in the last quarter. First Hawaiian Bank increased its holdings in IDACORP by 1.8% in the 3rd quarter. First Hawaiian Bank now owns 5,649 shares of the energy company’s stock valued at $559,000 after buying an additional 100 shares during the period. LPL Financial LLC increased its holdings in IDACORP by 0.6% in the 2nd quarter. LPL Financial LLC now owns 15,675 shares of the energy company’s stock valued at $1,660,000 after buying an additional 100 shares during the period. Cohen & Steers Inc. raised its position in shares of IDACORP by 33.8% in the 1st quarter. Cohen & Steers Inc. now owns 400 shares of the energy company’s stock valued at $46,000 after buying an additional 101 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of IDACORP by 2.7% during the 3rd quarter. Park Avenue Securities LLC now owns 4,161 shares of the energy company’s stock worth $412,000 after acquiring an additional 110 shares during the period. Institutional investors own 79.38% of the company’s stock.
IDACORP Stock Down 0.1 %
Shares of NYSE:IDA opened at $103.10 on Tuesday. IDACORP, Inc. has a 52-week low of $93.53 and a 52-week high of $118.92. The company has a market capitalization of $5.21 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 6.84 and a beta of 0.59. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.07 and a current ratio of 1.26. The company has a fifty day moving average of $105.40 and a 200-day moving average of $105.37.
IDACORP (NYSE:IDA – Get Rating) last issued its earnings results on Thursday, February 16th. The energy company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. IDACORP had a return on equity of 9.42% and a net margin of 15.75%. The business had revenue of $422.96 million during the quarter, compared to analysts’ expectations of $360.62 million. During the same quarter in the prior year, the firm earned $0.65 EPS. On average, equities analysts predict that IDACORP, Inc. will post 5.01 EPS for the current fiscal year.
IDACORP Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Monday, February 6th were given a dividend of $0.79 per share. The ex-dividend date was Friday, February 3rd. This represents a $3.16 annualized dividend and a yield of 3.06%. IDACORP’s dividend payout ratio is presently 61.84%.
Wall Street Analyst Weigh In
IDA has been the subject of several research analyst reports. Bank of America downgraded shares of IDACORP from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $115.00 to $103.00 in a research report on Monday, November 7th. They noted that the move was a valuation call. Mizuho dropped their price objective on IDACORP from $119.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, December 9th. Wells Fargo & Company decreased their target price on IDACORP from $113.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Friday, February 17th. Finally, StockNews.com cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Monday, February 20th.
About IDACORP
IDACORP, Inc is a holding company, which engages in the generation, transmission, distribution, sale, and purchase of electric energy. It operates through the Utilities Operations and All Other segments. The Utilities Operations segment focuses on the production of electricity. The All Others segment consists of IFS’s investments in affordable housing developments and historic rehabilitation projects and Ida-West’s joint venture investments in small hydropower generation projects.
See Also
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