Insider Selling: IDACORP Inc (IDA) VP Sells 1,150 Shares of Stock

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IDACORP Inc (NYSE:IDA) VP Tessia Park sold 1,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $101.50, for a total value of $116,725.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

NYSE:IDA traded up $0.26 during trading hours on Friday, reaching $99.54. 890,330 shares of the company traded hands, compared to its average volume of 250,822. The stock has a market cap of $5.10 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 8.94 and a beta of 0.39. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.91 and a current ratio of 2.31. IDACORP Inc has a 1-year low of $83.97 and a 1-year high of $102.44.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 21st. The coal producer reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $311.89 million for the quarter, compared to analysts’ expectations of $295.43 million. IDACORP had a return on equity of 9.75% and a net margin of 16.55%. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, equities research analysts predict that IDACORP Inc will post 4.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Tuesday, February 5th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Monday, February 4th. IDACORP’s dividend payout ratio (DPR) is presently 56.12%.

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in IDACORP by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 547,294 shares of the coal producer’s stock valued at $50,931,000 after buying an additional 37,621 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in IDACORP by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 378,863 shares of the coal producer’s stock valued at $35,256,000 after buying an additional 7,007 shares during the last quarter. Aurora Investment Counsel grew its holdings in IDACORP by 2.0% during the 4th quarter. Aurora Investment Counsel now owns 20,415 shares of the coal producer’s stock valued at $1,900,000 after buying an additional 402 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in IDACORP by 254.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,823 shares of the coal producer’s stock valued at $635,000 after buying an additional 4,896 shares during the last quarter. Finally, HRT Financial LLC acquired a new stake in IDACORP during the 4th quarter valued at $215,000. Hedge funds and other institutional investors own 76.83% of the company’s stock.

Separately, Zacks Investment Research raised IDACORP from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research note on Thursday, January 10th.

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IDACORP Company 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.

Further Reading: Beta

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