IDACORP, Inc. $IDA Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 13.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 836 shares of the energy company’s stock after acquiring an additional 99 shares during the quarter. GAMMA Investing LLC’s holdings in IDACORP were worth $97,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IDA. UMB Bank n.a. increased its holdings in shares of IDACORP by 3.8% in the second quarter. UMB Bank n.a. now owns 2,779 shares of the energy company’s stock valued at $321,000 after purchasing an additional 102 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of IDACORP in the second quarter valued at approximately $1,353,000. IFM Investors Pty Ltd increased its holdings in shares of IDACORP by 3.0% in the second quarter. IFM Investors Pty Ltd now owns 3,896 shares of the energy company’s stock valued at $450,000 after purchasing an additional 112 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings 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 last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of IDACORP in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the subject of several recent research reports. UBS Group reaffirmed a “neutral” rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Morgan Stanley lowered their price objective on IDACORP from $133.00 to $131.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, IDACORP currently has an average rating of “Moderate Buy” and a consensus target price of $123.29.

IDACORP Trading Down 0.4%

IDA opened at $131.66 on Thursday. IDACORP, Inc. has a 52 week low of $99.81 and a 52 week high of $134.35. The business has a fifty day simple moving average of $125.79 and a 200-day simple moving average of $119.47. The firm has a market cap of $7.11 billion, a P/E ratio of 23.18, a P/E/G ratio of 2.76 and a beta of 0.56. 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 released 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 during the quarter, compared to analyst estimates of $478.14 million. During the same period last year, the business posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th were paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 5th. IDACORP’s dividend payout ratio (DPR) 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.