Northwestern Mutual Investment Management Company LLC boosted its stake in IdaCorp Inc. (NYSE:IDA) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,703 shares of the company’s stock after buying an additional 26 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in IdaCorp were worth $708,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of IDA. Creative Planning increased its stake in shares of IdaCorp by 1.5% in the second quarter. Creative Planning now owns 1,731 shares of the company’s stock valued at $141,000 after buying an additional 25 shares during the period. Capstone Asset Management Co. increased its stake in shares of IdaCorp by 1.1% in the second quarter. Capstone Asset Management Co. now owns 3,552 shares of the company’s stock worth $289,000 after buying an additional 40 shares during the last quarter. IFP Advisors Inc increased its stake in shares of IdaCorp by 3.6% in the second quarter. IFP Advisors Inc now owns 1,911 shares of the company’s stock worth $155,000 after buying an additional 67 shares during the last quarter. Alpha Windward LLC increased its stake in shares of IdaCorp by 1.7% in the second quarter. Alpha Windward LLC now owns 6,243 shares of the company’s stock worth $508,000 after buying an additional 103 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of IdaCorp by 5.9% in the second quarter. State of Alaska Department of Revenue now owns 1,880 shares of the company’s stock worth $152,000 after buying an additional 105 shares during the last quarter. 74.45% of the stock is currently owned by institutional investors.
Shares of IdaCorp Inc. (NYSE:IDA) traded up 1.73% during midday trading on Friday, reaching $77.99. 90,003 shares of the company were exchanged. The company’s 50-day moving average price is $75.78 and its 200 day moving average price is $76.77. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 19.94 and a beta of 0.49. IdaCorp Inc. has a 52-week low of $65.03 and a 52-week high of $83.40.
IdaCorp (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.06. IdaCorp had a net margin of 15.71% and a return on equity of 9.41%. During the same period last year, the company posted $1.46 EPS. On average, equities analysts predict that IdaCorp Inc. will post $3.90 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 7th will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $2.20 annualized dividend and a dividend yield of 2.82%. This is an increase from IdaCorp’s previous quarterly dividend of $0.51. IdaCorp’s payout ratio is presently 56.27%.
Separately, Williams Capital began coverage on shares of IdaCorp in a research report on Tuesday, October 18th. They issued a “hold” rating and a $75.00 price objective for the company.
IdaCorp Company Profile
IDACORP, Inc is a holding company. The Company’s operating subsidiary is Idaho Power Company (Idaho Power), which is an electric utility engaged in the generation, transmission, distribution, sale and purchase of electric energy and capacity. Its segments are utility operations and all other. The utility operations segment consists of the regulated operations of Idaho Power, which include the generation, transmission, distribution, purchase and sale of electricity, and Idaho Energy Resources Co (IERCo), a subsidiary of Idaho Power and a joint venturer in Bridger Coal Company (BCC), which mines and supplies coal to the Jim Bridger generating plant owned in part by Idaho Power.