IDACORP Inc (NYSE:IDA) Director Christine King sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $87.21, for a total transaction of $252,909.00. Following the completion of the sale, the director now directly owns 13,381 shares in the company, valued at $1,166,957.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of IDA opened at $88.34 on Friday. IDACORP Inc has a fifty-two week low of $79.59 and a fifty-two week high of $100.04. The company has a market cap of $4.45 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 5.44 and a beta of 0.40. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.81.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, May 3rd. The coal producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. IDACORP had a net margin of 15.88% and a return on equity of 9.62%. The firm had revenue of $310.11 million for the quarter, compared to the consensus estimate of $302.93 million. During the same period in the prior year, the firm earned $0.66 EPS. research analysts forecast that IDACORP Inc will post 4.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 30th. Investors of record on Monday, May 7th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.67%. The ex-dividend date was Friday, May 4th. IDACORP’s payout ratio is currently 56.06%.

A number of institutional investors and hedge funds have recently made changes to their positions in IDA. Wells Fargo & Company MN increased its stake in IDACORP by 164.1% during the 1st quarter. Wells Fargo & Company MN now owns 610,522 shares of the coal producer’s stock worth $53,891,000 after buying an additional 379,310 shares during the period. Millennium Management LLC increased its stake in IDACORP by 519.8% during the 4th quarter. Millennium Management LLC now owns 324,119 shares of the coal producer’s stock worth $29,612,000 after buying an additional 271,825 shares during the period. Renaissance Technologies LLC increased its stake in IDACORP by 48.8% during the 4th quarter. Renaissance Technologies LLC now owns 664,400 shares of the coal producer’s stock worth $60,700,000 after buying an additional 217,900 shares during the period. BlackRock Inc. increased its stake in IDACORP by 1.5% during the 4th quarter. BlackRock Inc. now owns 7,983,305 shares of the coal producer’s stock worth $729,356,000 after buying an additional 116,636 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in IDACORP during the 4th quarter worth approximately $10,050,000. 76.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently issued reports on IDA. Zacks Investment Research raised shares of IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Thursday, April 5th. ValuEngine downgraded shares of IDACORP from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Williams Capital reissued a “hold” rating and issued a $80.00 price target (down from $86.00) on shares of IDACORP in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. IDACORP currently has an average rating of “Hold” and an average price target of $89.00.

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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