Teacher Retirement System of Texas Purchases 1,834 Shares of IDACORP, Inc. $IDA

Teacher Retirement System of Texas lifted its position in IDACORP, Inc. (NYSE:IDA) by 21.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,318 shares of the energy company’s stock after purchasing an additional 1,834 shares during the quarter. Teacher Retirement System of Texas’ holdings in IDACORP were worth $1,191,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in IDACORP by 621.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock worth $31,000 after acquiring an additional 230 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in IDACORP during the second quarter worth approximately $31,000. Riverview Trust Co bought a new stake in IDACORP during the second quarter worth approximately $42,000. Byrne Asset Management LLC bought a new stake in IDACORP during the second quarter worth approximately $49,000. Finally, GAMMA Investing LLC increased its stake in IDACORP by 13.4% during the second quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after acquiring an additional 99 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Down 0.7%

Shares of NYSE:IDA opened at $128.60 on Thursday. The business’s 50 day moving average is $130.08 and its 200 day moving average is $122.61. 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 stock has a market cap of $6.95 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59. IDACORP, Inc. has a 52-week low of $104.74 and a 52-week high of $138.03.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $663.69 million during the quarter, compared to analyst estimates of $663.09 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 business earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th will be issued a dividend of $0.88 per share. This is an increase from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho boosted their price objective on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company raised IDACORP to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed an “outperform” rating and set a $141.00 target price on shares of IDACORP in a research note on Wednesday, October 22nd. Finally, Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.38.

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.