IDACORP, Inc. (NYSE:IDA) SVP Jeffrey L. Malmen Sells 1,463 Shares of Stock

IDACORP, Inc. (NYSE:IDAGet Free Report) SVP Jeffrey L. Malmen sold 1,463 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $98.16, for a total value of $143,608.08. Following the completion of the transaction, the senior vice president now directly owns 15,734 shares of the company’s stock, valued at $1,544,449.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

IDACORP Stock Up 1.9 %

Shares of NYSE:IDA opened at $98.61 on Friday. The company has a market capitalization of $4.99 billion, a PE ratio of 18.30, a P/E/G ratio of 5.22 and a beta of 0.61. The company has a current ratio of 1.57, a quick ratio of 1.27 and a debt-to-equity ratio of 0.87. IDACORP, Inc. has a twelve month low of $92.40 and a twelve month high of $112.96. The firm has a 50 day simple moving average of $98.90 and a 200-day simple moving average of $103.86.

IDACORP (NYSE:IDAGet Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The energy company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.13. The company had revenue of $413.84 million for the quarter, compared to analyst estimates of $359.32 million. IDACORP had a net margin of 15.31% and a return on equity of 9.67%. During the same period in the previous year, the business posted $1.27 earnings per share. On average, equities analysts predict that IDACORP, Inc. will post 5.03 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Wednesday, August 2nd were paid a dividend of $0.79 per share. The ex-dividend date was Tuesday, August 1st. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.20%. IDACORP’s dividend payout ratio (DPR) is 58.63%.

Analyst Ratings Changes

A number of brokerages have commented on IDA. Wells Fargo & Company reduced their target price on shares of IDACORP from $112.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. assumed coverage on shares of IDACORP in a research report on Sunday, August 20th. They set a “sell” rating for the company. Finally, Mizuho dropped their price target on shares of IDACORP from $107.00 to $105.00 in a research report on Wednesday, August 9th.

Read Our Latest Stock Report on IDA

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Virginia Retirement Systems ET AL acquired a new position in shares of IDACORP during the second quarter worth about $10,886,000. Comerica Bank acquired a new position in shares of IDACORP during the second quarter worth about $8,470,000. Asset Dedication LLC acquired a new position in shares of IDACORP during the second quarter worth about $106,000. Osaic Holdings Inc. increased its stake in shares of IDACORP by 1.4% during the second quarter. Osaic Holdings Inc. now owns 16,981 shares of the energy company’s stock worth $1,743,000 after acquiring an additional 240 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in IDACORP by 10.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 8,946 shares of the energy company’s stock worth $918,000 after buying an additional 831 shares in the last quarter. 83.00% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Company Profile

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IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.

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