Pinnacle Advisory Group Inc. continued to hold its stake in IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,715 shares of the coal producer’s stock at the end of the second quarter. Pinnacle Advisory Group Inc.’s holdings in IDACORP were worth $225,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in IDA. BlackRock Inc. raised its stake 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 in the last quarter. Vanguard Group Inc. raised its stake in IDACORP by 3.6% in the first quarter. Vanguard Group Inc. now owns 4,579,299 shares of the coal producer’s stock valued at $379,899,000 after buying an additional 159,218 shares in the last quarter. State Street Corp raised its stake in IDACORP by 1.0% in the first quarter. State Street Corp now owns 1,714,649 shares of the coal producer’s stock valued at $142,250,000 after buying an additional 17,562 shares in the last quarter. Schroder Investment Management Group raised its stake in IDACORP by 8.2% in the first quarter. Schroder Investment Management Group now owns 1,046,756 shares of the coal producer’s stock valued at $86,828,000 after buying an additional 79,517 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in 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 valued at $61,449,000 after buying an additional 34,156 shares in the last quarter. 78.47% of the stock is owned by institutional investors.
IDACORP, Inc. (NYSE:IDA) traded up 0.15% on Tuesday, reaching $84.31. The company’s stock had a trading volume of 87,622 shares. IDACORP, Inc. has a 12-month low of $72.93 and a 12-month high of $90.67. The firm has a 50-day moving average of $86.97 and a 200 day moving average of $82.92. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 20.62 and a beta of 0.51.
IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, May 4th. The coal producer reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.10. The company had revenue of $302.54 million during the quarter. IDACORP had a return on equity of 9.60% and a net margin of 16.02%. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, equities research analysts anticipate that IDACORP, Inc. will post $4.00 EPS for the current fiscal year.
Several equities research analysts recently issued reports on IDA shares. Zacks Investment Research raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub downgraded IDACORP from a “buy” rating to a “hold” rating in a research note on Friday, June 30th.
In related news, VP Lisa A. Grow sold 1,200 shares of IDACORP stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total transaction of $106,344.00. Following the completion of the transaction, the vice president now directly owns 17,248 shares in the company, valued at $1,528,517.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.71% of the stock is currently owned by company insiders.
About IDACORP
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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