American Century Companies Inc. Purchases 358 Shares of IDACORP, Inc. $IDA

American Century Companies Inc. lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,019 shares of the energy company’s stock after buying an additional 358 shares during the quarter. American Century Companies Inc.’s holdings in IDACORP were worth $1,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of IDA. Jennison Associates LLC acquired a new stake in shares of IDACORP during the 1st quarter worth about $71,437,000. Ameriprise Financial Inc. lifted its stake in shares of IDACORP by 596.7% during the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company’s stock worth $41,451,000 after buying an additional 324,866 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of IDACORP by 128.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company’s stock worth $60,914,000 after buying an additional 294,342 shares during the last quarter. Reaves W H & Co. Inc. lifted its stake in shares of IDACORP by 25.0% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock worth $145,034,000 after buying an additional 249,542 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of IDACORP during the 1st quarter worth about $20,478,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Down 0.0%

NYSE:IDA opened at $125.02 on Tuesday. The firm has a market cap of $6.75 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.62 and a beta of 0.59. IDACORP, Inc. has a 52 week low of $99.81 and a 52 week high of $128.50. The firm’s fifty day moving average is $121.74 and its 200-day moving average is $117.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45.

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

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $3.44 annualized dividend and a yield of 2.8%. IDACORP’s dividend payout ratio is currently 60.56%.

Analyst Ratings Changes

A number of analysts have recently issued reports on IDA shares. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Morgan Stanley set a $133.00 target price on IDACORP and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, UBS Group restated a “neutral” rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.57.

IDACORP Company 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.