HighTower Advisors LLC Buys 7,189 Shares of IDACORP, Inc. $IDA

HighTower Advisors LLC lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 133.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,561 shares of the energy company’s stock after purchasing an additional 7,189 shares during the quarter. HighTower Advisors LLC’s holdings in IDACORP were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elite Financial Inc. bought a new stake in shares of IDACORP during the 1st quarter valued at approximately $29,000. Opal Wealth Advisors LLC bought a new stake in shares of IDACORP during the 1st quarter valued at approximately $34,000. Farther Finance Advisors LLC grew its holdings in shares of IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock valued at $49,000 after purchasing an additional 378 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of IDACORP by 39.7% during the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company’s stock valued at $51,000 after purchasing an additional 125 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of IDACORP by 20.8% during the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock valued at $86,000 after purchasing an additional 127 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the stock an “equal weight” rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their target price on shares of IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. Guggenheim lifted their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, UBS Group reiterated a “neutral” rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.86.

IDACORP Stock Down 0.9%

Shares of NYSE IDA opened at $126.9140 on Tuesday. The company has a market capitalization of $6.86 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56. IDACORP, Inc. has a 52-week low of $99.81 and a 52-week high of $128.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The company’s 50 day moving average price is $120.55 and its 200-day moving average price is $117.15.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.76. The firm had revenue of $531.10 million for the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter in the previous year, the company earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a $0.86 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP’s payout ratio is 60.56%.

IDACORP Profile

IDACORP, Inc, together with its subsidiaries, 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 and Nevada.