HB Wealth Management LLC Invests $213,000 in IDACORP, Inc. $IDA

HB Wealth Management LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,845 shares of the energy company’s stock, valued at approximately $213,000.

Other institutional investors also recently modified their holdings of the company. Elite Financial Inc. acquired a new position in shares of IDACORP during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its position in 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 buying an additional 230 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in IDACORP in the 1st quarter valued at $34,000. Farther Finance Advisors LLC raised its position in 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 buying an additional 378 shares during the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in IDACORP in the 2nd quarter valued at $49,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IDA shares. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research report on Saturday, September 27th. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Morgan Stanley decreased their target price 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. Finally, UBS Group reaffirmed a “neutral” rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, IDACORP has an average rating of “Moderate Buy” and a consensus price target of $123.29.

IDACORP Stock Performance

Shares of IDA opened at $133.71 on Wednesday. The company has a market cap of $7.22 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.56. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average price of $126.62 and a 200-day moving average price of $119.96. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $134.80.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.76. The firm had revenue of $531.10 million during the quarter, compared to the consensus estimate 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 company posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

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