Citadel Advisors LLC Purchases New Position in IDACORP, Inc. (IDA)
Citadel Advisors LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,646 shares of the coal producer’s stock, valued at approximately $1,165,000.
A number of other hedge funds have also modified their holdings of the business. Renaissance Technologies LLC increased its stake in IDACORP by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 285,100 shares of the coal producer’s stock valued at $24,333,000 after buying an additional 64,330 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of IDACORP by 11.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 169,343 shares of the coal producer’s stock worth $14,453,000 after purchasing an additional 17,447 shares during the last quarter. Advisor Group Inc. increased its stake in shares of IDACORP by 6.5% during the 2nd quarter. Advisor Group Inc. now owns 1,829 shares of the coal producer’s stock worth $156,000 after purchasing an additional 111 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of IDACORP by 17.9% during the 2nd quarter. Nordea Investment Management AB now owns 18,574 shares of the coal producer’s stock worth $1,585,000 after purchasing an additional 2,826 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of IDACORP during the 2nd quarter worth about $315,000. Hedge funds and other institutional investors own 75.95% of the company’s stock.
IDACORP, Inc. (NYSE:IDA) opened at 89.15 on Thursday. The stock’s 50 day moving average is $88.96 and its 200 day moving average is $86.39. IDACORP, Inc. has a 1-year low of $72.93 and a 1-year high of $91.98. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 22.52 and a beta of 0.50.
IDACORP (NYSE:IDA) last announced its earnings results on Thursday, August 3rd. The coal producer reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). The firm had revenue of $333.01 million during the quarter. IDACORP had a net margin of 15.31% and a return on equity of 9.20%. During the same period in the prior year, the company posted $1.12 EPS. Analysts predict that IDACORP, Inc. will post $4.00 EPS for the current fiscal year.
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IDA has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, KeyCorp restated a “hold” rating on shares of IDACORP in a research note on Friday, September 1st.
IDACORP Company Profile
IDACORP, Inc is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power). The Company’s segment is utility operations. The utility operations segment’s primary source of revenue is the regulated operations of Idaho Power. Idaho Power is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity.
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