Palisade Capital Managementnj buys $29.2 Million stake in IDACORP Inc (IDA)

IDACORP Inc (IDA) : Palisade Capital Managementnj scooped up 10,771 additional shares in IDACORP Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 395,165 shares of IDACORP Inc which is valued at $29.2 Million.IDACORP Inc makes up approximately 1.13% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Pring Turner Capital Group Inc reduced its stake in IDA by selling 150 shares or 4.23% in the most recent quarter. The Hedge Fund company now holds 3,400 shares of IDA which is valued at $251,294. IDACORP Inc makes up approx 0.36% of Pring Turner Capital Group Inc’s portfolio. Old Mutual Global Investors (uk) Ltd. added IDA to its portfolio by purchasing 1,574 company shares during the most recent quarter which is valued at $114,855.Clarivest Asset Management reduced its stake in IDA by selling 4,600 shares or 14.89% in the most recent quarter. The Hedge Fund company now holds 26,300 shares of IDA which is valued at $1.9 Million. IDACORP Inc makes up approx 0.06% of Clarivest Asset Management’s portfolio.

IDACORP Inc opened for trading at $73.78 and hit $74.04 on the upside on Monday, eventually ending the session at $73.94, with a gain of 0.04% or 0.03 points. The heightened volatility saw the trading volume jump to 1,22,684 shares. Company has a market cap of $3,728 M.

On the company’s financial health, IDACORP Inc reported $0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $0.53.During the same quarter in the previous year, the company posted $0.47 EPS.

IDACORP Inc. (IDACORP) is a holding company. The Company’s principal operating subsidiary is Idaho Power Company (Idaho Power) which is an electric utility engaged in the generation transmission distribution sale and purchase of electric energy and capacity. IDACORP’s other subsidiaries include IDACORP Financial Services Inc. Ida-West Energy Company and IDACORP Energy Services Co. Idaho Power is also engaged in the sale of electricity to retail and wholesale customers and the provision of transmission service. Idaho Power provides electric utility service to approximately 516000 general business customers in southern Idaho and eastern Oregon. Idaho Power holds franchises in 71 cities in Idaho and nine cities in Oregon and holds certificates to serve all or a portion of 25 counties in Idaho and three counties in Oregon. Idaho Power’s system consists of 17 hydroelectric generating plants three natural gas-fired plants and three coal-fired steam electric generating plants.

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