Palisade Capital Managementnj Lowers stake in IDACORP Inc (IDA)

IDACORP Inc (IDA) : Palisade Capital Managementnj reduced its stake in IDACORP Inc by 0.86% during the most recent quarter end. The investment management company now holds a total of 391,758 shares of IDACORP Inc which is valued at $31,140,843 after selling 3,407 shares in IDACORP Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.IDACORP Inc makes up approximately 1.32% of Palisade Capital Managementnj’s portfolio.

Other Hedge Funds, Including , Oregon Public Employees Retirement Fund boosted its stake in IDA in the latest quarter, The investment management firm added 408 additional shares and now holds a total of 16,855 shares of IDACORP Inc which is valued at $1,339,804. IDACORP Inc makes up approx 0.03% of Oregon Public Employees Retirement Fund’s portfolio.

IDACORP Inc closed down -0.06 points or -0.08% at $78.57 with 1,59,623 shares getting traded on Monday. Post opening the session at $78.65, the shares hit an intraday low of $77.96 and an intraday high of $79.16 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, IDACORP Inc reported $1.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.99.During the same quarter in the previous year, the company posted $1.31 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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