IDACORP Inc (IDA) Forecasted to Post Q2 2017 Earnings of $1.05 Per Share
IDACORP Inc (NYSE:IDA) – Investment analysts at KeyCorp issued their Q2 2017 EPS estimates for IDACORP in a research note issued on Thursday. KeyCorp analyst P. Ridzon forecasts that the coal producer will earn $1.05 per share for the quarter. KeyCorp also issued estimates for IDACORP’s FY2017 earnings at $4.00 EPS and FY2018 earnings at $4.15 EPS.
IDACORP (NYSE:IDA) last announced its earnings results on Thursday, May 4th. The coal producer reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.10. IDACORP had a return on equity of 9.41% and a net margin of 15.71%. The business had revenue of $302.54 million for the quarter. During the same period in the previous year, the firm posted $0.51 earnings per share.
Separately, Zacks Investment Research lowered shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th.
Shares of IDACORP (NYSE:IDA) opened at 86.31 on Friday. The stock’s 50 day moving average price is $84.30 and its 200-day moving average price is $80.93. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 21.11 and a beta of 0.49. IDACORP has a 12 month low of $72.13 and a 12 month high of $86.46.
Several hedge funds and other institutional investors have recently made changes to their positions in IDA. First Midwest Bank Trust Division raised its position in shares of IDACORP by 0.5% in the first quarter. First Midwest Bank Trust Division now owns 9,675 shares of the coal producer’s stock worth $803,000 after buying an additional 45 shares in the last quarter. World Asset Management Inc raised its position in shares of IDACORP by 1.7% in the first quarter. World Asset Management Inc now owns 3,122 shares of the coal producer’s stock worth $259,000 after buying an additional 51 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of IDACORP by 0.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 10,700 shares of the coal producer’s stock worth $862,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. raised its position in shares of IDACORP by 2.7% in the first quarter. Capstone Asset Management Co. now owns 3,812 shares of the coal producer’s stock worth $316,000 after buying an additional 100 shares in the last quarter. Finally, Advantus Capital Management Inc raised its position in shares of IDACORP by 3.0% in the first quarter. Advantus Capital Management Inc now owns 6,452 shares of the coal producer’s stock worth $535,000 after buying an additional 188 shares in the last quarter. 74.26% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Steven R. Keen sold 2,966 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $83.04, for a total transaction of $246,296.64. Following the completion of the transaction, the chief financial officer now owns 21,686 shares of the company’s stock, valued at $1,800,805.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Friday, May 5th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, May 3rd. IDACORP’s dividend payout ratio is currently 56.27%.
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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