IDACORP, Inc. $IDA Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its position in IDACORP, Inc. (NYSE:IDA) by 3.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,896 shares of the energy company’s stock after buying an additional 112 shares during the period. IFM Investors Pty Ltd’s holdings in IDACORP were worth $450,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of IDACORP by 134.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,402 shares of the energy company’s stock valued at $1,786,000 after purchasing an additional 8,819 shares during the period. Byrne Asset Management LLC acquired a new stake in IDACORP in the 2nd quarter worth about $49,000. NBC Securities Inc. boosted its holdings in IDACORP by 2.3% in the 2nd quarter. NBC Securities Inc. now owns 36,850 shares of the energy company’s stock worth $4,254,000 after buying an additional 846 shares during the last quarter. LVM Capital Management Ltd. MI increased its stake in IDACORP by 1.8% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 125,257 shares of the energy company’s stock worth $14,461,000 after buying an additional 2,275 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of IDACORP by 4.6% during the first quarter. Voya Investment Management LLC now owns 8,098 shares of the energy company’s stock valued at $941,000 after acquiring an additional 353 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Up 1.1%

Shares of IDACORP stock opened at $127.66 on Wednesday. The stock has a 50 day moving average of $124.69 and a 200 day moving average of $118.88. 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 firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.64 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $99.81 and a fifty-two week high of $128.50.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting 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 return on equity of 9.18% and a net margin of 16.96%.During the same quarter in the prior year, the company posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

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

Analyst Upgrades and Downgrades

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

About IDACORP

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.