IDACORP Inc (IDA) CFO Sells $312,020.04 in Stock

IDACORP Inc (NYSE:IDA) CFO Steven R. Keen sold 3,557 shares of IDACORP stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $87.72, for a total value of $312,020.04. Following the completion of the transaction, the chief financial officer now owns 17,240 shares of the company’s stock, valued at approximately $1,512,292.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

IDACORP Inc (NYSE IDA) traded down $1.54 during midday trading on Friday, hitting $84.34. The stock had a trading volume of 359,804 shares, compared to its average volume of 349,228. The firm has a market cap of $4,320.64, a PE ratio of 20.32, a P/E/G ratio of 5.04 and a beta of 0.47. IDACORP Inc has a one year low of $79.59 and a one year high of $100.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.21 and a quick ratio of 1.65.

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IDACORP (NYSE:IDA) last released its earnings results on Thursday, February 22nd. The coal producer reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The company had revenue of $305.61 million during the quarter, compared to analysts’ expectations of $274.05 million. IDACORP had a return on equity of 9.59% and a net margin of 15.74%. During the same period last year, the firm earned $0.66 EPS. equities research analysts forecast that IDACORP Inc will post 4.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Monday, February 5th were paid a $0.59 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $2.36 annualized dividend and a dividend yield of 2.80%. IDACORP’s dividend payout ratio (DPR) is currently 55.92%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of IDACORP by 1.5% in the 4th quarter. BlackRock Inc. now owns 7,983,305 shares of the coal producer’s stock valued at $729,356,000 after buying an additional 116,636 shares during the period. Schroder Investment Management Group grew its stake in shares of IDACORP by 2.3% during the fourth quarter. Schroder Investment Management Group now owns 1,095,779 shares of the coal producer’s stock worth $100,110,000 after purchasing an additional 24,941 shares during the period. Bank of New York Mellon Corp grew its stake in shares of IDACORP by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 751,681 shares of the coal producer’s stock worth $68,673,000 after purchasing an additional 10,831 shares during the period. Renaissance Technologies LLC grew its stake in shares of IDACORP by 48.8% during the fourth quarter. Renaissance Technologies LLC now owns 664,400 shares of the coal producer’s stock worth $60,700,000 after purchasing an additional 217,900 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of IDACORP by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 435,767 shares of the coal producer’s stock worth $39,811,000 after purchasing an additional 6,264 shares during the period. 75.65% of the stock is owned by institutional investors.

Several brokerages have issued reports on IDA. Zacks Investment Research downgraded IDACORP from a “buy” rating to a “hold” rating in a research report on Thursday. Williams Capital reissued a “hold” rating and issued a $80.00 target price (down from $86.00) on shares of IDACORP in a research note on Monday, February 26th. Bank of America assumed coverage on IDACORP in a research note on Tuesday, January 9th. They issued an “underperform” rating and a $85.00 target price for the company. Finally, ValuEngine raised IDACORP from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.00.

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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. 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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