Q2 2017 Earnings Estimate for IDACORP, Inc. Issued By KeyCorp (NYSE:IDA)
IDACORP, Inc. (NYSE:IDA) – Investment analysts at KeyCorp decreased their Q2 2017 earnings per share estimates for IDACORP in a research report issued on Monday. KeyCorp analyst P. Ridzon now expects that the coal producer will post earnings per share of $1.02 for the quarter, down from their prior estimate of $1.05.
IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, May 4th. The coal producer reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.10. The company had revenue of $302.54 million for the quarter. IDACORP had a return on equity of 9.60% and a net margin of 16.02%. During the same period in the prior year, the firm posted $0.51 EPS.
Several other equities research analysts also recently weighed in on IDA. Zacks Investment Research downgraded IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. BidaskClub downgraded IDACORP from a “buy” rating to a “hold” rating in a report on Friday, June 30th.
IDACORP (NYSE IDA) opened at 86.65 on Wednesday. IDACORP has a 1-year low of $72.93 and a 1-year high of $90.67. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of 21.20 and a beta of 0.51. The firm has a 50-day moving average price of $86.82 and a 200-day moving average price of $83.45.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Tuesday, August 8th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Friday, August 4th. IDACORP’s payout ratio is presently 53.79%.
In other IDACORP news, VP Lisa A. Grow sold 1,200 shares of IDACORP stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total transaction of $106,344.00. Following the transaction, the vice president now directly owns 17,248 shares of the company’s stock, valued at approximately $1,528,517.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in IDACORP by 18,568.5% in the first quarter. BlackRock Inc. now owns 7,810,350 shares of the coal producer’s stock valued at $647,945,000 after buying an additional 7,768,513 shares during the period. Vanguard Group Inc. raised its stake in shares of IDACORP by 3.6% in the first quarter. Vanguard Group Inc. now owns 4,579,299 shares of the coal producer’s stock worth $379,899,000 after buying an additional 159,218 shares during the last quarter. State Street Corp raised its stake in shares of IDACORP by 1.0% in the first quarter. State Street Corp now owns 1,714,649 shares of the coal producer’s stock worth $142,250,000 after buying an additional 17,562 shares during the last quarter. Schroder Investment Management Group raised its stake in shares of IDACORP by 8.2% in the first quarter. Schroder Investment Management Group now owns 1,046,756 shares of the coal producer’s stock worth $86,828,000 after buying an additional 79,517 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of IDACORP by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 740,703 shares of the coal producer’s stock worth $61,449,000 after buying an additional 34,156 shares during the last quarter. 78.40% of the stock is owned by hedge funds and other institutional investors.
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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