Strs Ohio Invests $8.15 Million in IDACORP, Inc. $IDA

Strs Ohio acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 70,093 shares of the energy company’s stock, valued at approximately $8,146,000. Strs Ohio owned about 0.13% of IDACORP at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IDA. Cetera Investment Advisers lifted its holdings in shares of IDACORP by 21.2% during the 4th quarter. Cetera Investment Advisers now owns 8,707 shares of the energy company’s stock worth $952,000 after acquiring an additional 1,522 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in IDACORP in the fourth quarter valued at approximately $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in IDACORP in the fourth quarter valued at approximately $362,000. Nomura Holdings Inc. acquired a new stake in IDACORP in the fourth quarter valued at approximately $772,000. Finally, Quantinno Capital Management LP grew its position in shares of IDACORP by 23.1% during the fourth quarter. Quantinno Capital Management LP now owns 15,450 shares of the energy company’s stock worth $1,688,000 after buying an additional 2,895 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

NYSE:IDA opened at $125.50 on Monday. The business’s 50-day moving average price is $123.51 and its 200 day moving average price is $118.39. The firm has a market cap of $6.78 billion, a P/E ratio of 22.09, a PEG 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 company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01.

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

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP’s payout ratio is 60.56%.

Analyst Upgrades and Downgrades

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