IDACORP, Inc. $IDA Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. grew its position in IDACORP, Inc. (NYSE:IDA) by 104.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,073 shares of the energy company’s stock after purchasing an additional 549 shares during the period. Geneos Wealth Management Inc.’s holdings in IDACORP were worth $125,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Elite Financial Inc. purchased a new stake in IDACORP in the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of IDACORP by 621.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock valued at $31,000 after acquiring an additional 230 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of IDACORP in the 1st quarter valued at $34,000. Farther Finance Advisors LLC boosted its holdings in shares of IDACORP by 879.1% in the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock valued at $49,000 after acquiring an additional 378 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company’s stock valued at $51,000 after acquiring an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group restated a “neutral” rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Morgan Stanley set a $133.00 price target on shares of IDACORP and gave the stock an “outperform” rating in a report on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.57.

IDACORP Stock Performance

Shares of IDACORP stock opened at $125.18 on Thursday. IDACORP, Inc. has a one year low of $99.81 and a one year high of $128.50. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.60 and a beta of 0.59. 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 business’s 50 day moving average price is $124.02 and its 200 day moving average price is $118.53.

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

IDACORP Dividend Announcement

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