Flagship Harbor Advisors LLC lowered its position in shares of IDACORP Inc (NYSE:IDA) by 34.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 408 shares of the coal producer’s stock after selling 215 shares during the period. Flagship Harbor Advisors LLC’s holdings in IDACORP were worth $38,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of IDA. Lavaca Capital LLC purchased a new stake in IDACORP in the fourth quarter valued at $27,000. Private Capital Group LLC lifted its position in IDACORP by 107.0% in the fourth quarter. Private Capital Group LLC now owns 387 shares of the coal producer’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. First Hawaiian Bank purchased a new stake in IDACORP in the third quarter valued at $116,000. Meeder Asset Management Inc. purchased a new stake in IDACORP in the fourth quarter valued at $163,000. Finally, Redpoint Investment Management Pty Ltd purchased a new stake in IDACORP in the third quarter valued at $204,000. Hedge funds and other institutional investors own 77.52% of the company’s stock.
Separately, Zacks Investment Research cut shares of IDACORP from a “buy” rating to a “hold” rating in a research report on Monday, January 7th.
Shares of IDA opened at $96.32 on Wednesday. IDACORP Inc has a 1-year low of $79.59 and a 1-year high of $102.44. The firm has a market capitalization of $4.86 billion, a P/E ratio of 20.34, a P/E/G ratio of 8.49 and a beta of 0.42. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.33 and a quick ratio of 1.86.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Tuesday, February 5th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, February 4th. This represents a $2.52 dividend on an annualized basis and a yield of 2.62%. IDACORP’s dividend payout ratio (DPR) is presently 59.86%.
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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