Jane Street Group LLC Makes New $16.33 Million Investment in IDACORP Inc (NYSE:IDA)

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Jane Street Group LLC bought a new position in IDACORP Inc (NYSE:IDA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 162,563 shares of the coal producer’s stock, valued at approximately $16,326,000. Jane Street Group LLC owned about 0.42% of IDACORP as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NumerixS Investment Technologies Inc bought a new position in IDACORP in the 2nd quarter worth about $50,000. FNY Investment Advisers LLC bought a new position in shares of IDACORP in the 2nd quarter worth approximately $80,000. Liberty Wealth Management LLC raised its position in shares of IDACORP by 159.6% in the 2nd quarter. Liberty Wealth Management LLC now owns 976 shares of the coal producer’s stock worth $98,000 after acquiring an additional 600 shares in the last quarter. Hilton Capital Management LLC bought a new position in shares of IDACORP in the 1st quarter worth approximately $102,000. Finally, Pearl River Capital LLC increased its position in IDACORP by 853.8% during the 2nd quarter. Pearl River Capital LLC now owns 1,240 shares of the coal producer’s stock valued at $125,000 after buying an additional 1,110 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Shares of IDA stock traded up $0.82 on Friday, reaching $111.19. The stock had a trading volume of 247,407 shares, compared to its average volume of 321,243. The stock has a market cap of $4.32 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 6.43 and a beta of 0.24. IDACORP Inc has a 1 year low of $89.31 and a 1 year 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 $107.55 and a 200 day simple moving average of $102.76.

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 Thomson Reuters’ consensus estimate of $1.17 by ($0.12). IDACORP had a net margin of 16.16% and a return on equity of 9.40%. The business had revenue of $316.90 million during the quarter, compared to analysts’ expectations of $327.38 million. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, equities research analysts anticipate that IDACORP Inc will post 4.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were given a $0.63 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $2.52 annualized dividend and a dividend yield of 2.27%. IDACORP’s payout ratio is 56.12%.

In other news, COO Lisa A. Grow sold 750 shares of the business’s stock in a transaction dated 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 $1,542,380.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Separately, Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating and set a $108.00 price target on the stock. in a research note on Friday, July 26th.

IDACORP 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.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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