IDACORP, Inc. $IDA Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,758 shares of the energy company’s stock after selling 99 shares during the quarter. Park Avenue Securities LLC’s holdings in IDACORP were worth $434,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in IDA. KBC Group NV lifted its stake in IDACORP by 21.2% in the first quarter. KBC Group NV now owns 2,350 shares of the energy company’s stock worth $273,000 after acquiring an additional 411 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of IDACORP by 20.8% in 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 in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of IDACORP by 103.0% in the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company’s stock valued at $986,000 after purchasing an additional 4,305 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of IDACORP by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company’s stock valued at $765,000 after purchasing an additional 456 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of IDACORP by 318.9% in the 1st quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company’s stock valued at $163,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDACORP stock opened at $130.60 on Tuesday. The firm has a market capitalization of $7.06 billion, a P/E ratio of 22.99, a P/E/G ratio of 2.71 and a beta of 0.59. IDACORP, Inc. has a 52 week low of $99.81 and a 52 week high of $130.70. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $125.44 and its two-hundred day moving average is $119.29.

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 company 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 posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is 60.56%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Morgan Stanley reduced their price objective on shares of IDACORP from $133.00 to $131.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.29.

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.