Coann Capital LLC Invests $4.46 Million in IDACORP, Inc. (NYSE:IDA)

Coann Capital LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 44,630 shares of the energy company’s stock, valued at approximately $4,462,000. IDACORP comprises approximately 3.8% of Coann Capital LLC’s holdings, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Berman Capital Advisors LLC lifted its stake in shares of IDACORP by 287.4% during the 1st quarter. Berman Capital Advisors LLC now owns 461 shares of the energy company’s stock worth $45,000 after buying an additional 342 shares during the last quarter. Crescent Capital Consulting LLC acquired a new stake in shares of IDACORP during the 1st quarter worth about $50,000. DB Wealth Management Group LLC acquired a new stake in shares of IDACORP during the 4th quarter worth about $95,000. CI Investments Inc. lifted its stake in shares of IDACORP by 129.5% during the 4th quarter. CI Investments Inc. now owns 996 shares of the energy company’s stock worth $96,000 after buying an additional 562 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of IDACORP by 959.0% during the 4th quarter. Captrust Financial Advisors now owns 1,059 shares of the energy company’s stock worth $102,000 after buying an additional 959 shares during the last quarter. Institutional investors own 77.87% of the company’s stock.

NYSE:IDA traded up $0.19 during mid-day trading on Friday, reaching $100.31. 63 shares of the company’s stock were exchanged, compared to its average volume of 353,347. IDACORP, Inc. has a one year low of $78.91 and a one year high of $104.96. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 5.30 and a beta of 0.50. The business’s fifty day moving average is $100.36. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 0.78.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, April 29th. The energy company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.81 by $0.08. IDACORP had a net margin of 17.79% and a return on equity of 9.58%. The firm had revenue of $316.05 million for the quarter. As a group, analysts expect that IDACORP, Inc. will post 4.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Wednesday, May 5th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Tuesday, May 4th. IDACORP’s dividend payout ratio is currently 60.55%.

IDA has been the subject of a number of research reports. Williams Capital restated a “buy” rating on shares of IDACORP in a research note on Friday, April 23rd. Bank of America reaffirmed a “neutral” rating and set a $105.00 price target on shares of IDACORP in a research report on Monday, April 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $100.00.

About IDACORP

IDACORP, Inc engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming, Nevada, and Oregon.

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Institutional Ownership by Quarter for IDACORP (NYSE:IDA)

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