Advisors Asset Management Inc. Acquires 2,178 Shares of IDACORP, Inc. $IDA

Advisors Asset Management Inc. lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 26.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,558 shares of the energy company’s stock after purchasing an additional 2,178 shares during the quarter. Advisors Asset Management Inc.’s holdings in IDACORP were worth $1,219,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of IDA. Jennison Associates LLC boosted its holdings in shares of IDACORP by 115.3% in the second quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock valued at $152,816,000 after buying an additional 708,989 shares during the period. Lord Abbett & CO. LLC boosted its stake in IDACORP by 128.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company’s stock worth $60,914,000 after purchasing an additional 294,342 shares during the period. Reaves W H & Co. Inc. increased its holdings in IDACORP by 25.0% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock worth $145,034,000 after purchasing an additional 249,542 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in IDACORP by 10.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company’s stock worth $245,243,000 after purchasing an additional 200,465 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of IDACORP in the 1st quarter valued at about $20,478,000. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Up 0.7%

IDACORP stock opened at $131.78 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The company’s 50-day moving average is $131.40 and its 200-day moving average is $124.23. The firm has a market capitalization of $7.12 billion, a PE ratio of 23.20, a P/E/G ratio of 2.86 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $104.74 and a fifty-two week high of $138.03.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The business had revenue of $524.42 million during the quarter, compared to analysts’ expectations of $663.09 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 $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Sell-side analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IDA. Wells Fargo & Company raised IDACORP to a “hold” rating in a research report on Tuesday, October 28th. Morgan Stanley set a $137.00 price target on IDACORP in a research report on Thursday, November 20th. Mizuho raised their price target on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Jefferies Financial Group lifted their price objective on shares of IDACORP from $144.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.88.

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.