Dubuque Bank & Trust Co. Increases Position in IDACORP, Inc. (IDA)

Dubuque Bank & Trust Co. raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,348 shares of the coal producer’s stock after buying an additional 103 shares during the period. Dubuque Bank & Trust Co.’s holdings in IDACORP were worth $286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE increased its position in IDACORP by 48.1% in the second quarter. US Bancorp DE now owns 23,622 shares of the coal producer’s stock worth $2,017,000 after buying an additional 7,672 shares during the last quarter. State Treasurer State of Michigan increased its position in IDACORP by 1.5% in the second quarter. State Treasurer State of Michigan now owns 20,780 shares of the coal producer’s stock worth $1,774,000 after buying an additional 300 shares in the last quarter. First National Bank of Omaha increased its position in IDACORP by 0.7% in the second quarter. First National Bank of Omaha now owns 20,260 shares of the coal producer’s stock worth $1,729,000 after buying an additional 150 shares in the last quarter. Louisiana State Employees Retirement System increased its position in IDACORP by 3.1% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the coal producer’s stock worth $1,118,000 after buying an additional 400 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in IDACORP by 15.4% in the second quarter. LS Investment Advisors LLC now owns 3,913 shares of the coal producer’s stock worth $334,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 78.61% of the company’s stock.

IDACORP, Inc. (NYSE IDA) opened at 87.16 on Thursday. The stock has a market capitalization of $4.39 billion, a P/E ratio of 21.32 and a beta of 0.51. IDACORP, Inc. has a 52 week low of $72.93 and a 52 week high of $90.67. The firm has a 50 day moving average price of $86.03 and a 200 day moving average price of $84.07.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, August 3rd. The coal producer reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.07. IDACORP had a net margin of 15.31% and a return on equity of 9.20%. The company had revenue of $333.01 million for the quarter. During the same period in the previous year, the business earned $1.12 earnings per share. Equities research analysts predict that IDACORP, Inc. will post $4.00 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Tuesday, August 8th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, August 4th. IDACORP’s dividend payout ratio (DPR) is 55.56%.

TRADEMARK VIOLATION NOTICE: “[[title]]” was posted by [[site]] and is the property of of [[site]]. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at [[permalink]].

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded IDACORP from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Thursday, July 27th. 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 the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $88.62, for a total value of $106,344.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.71% of the company’s stock.

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.