Deprince Race & Zollo Inc. Trims Stock Position in IDACORP, Inc. $IDA

Deprince Race & Zollo Inc. lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 28.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 211,054 shares of the energy company’s stock after selling 83,762 shares during the period. Deprince Race & Zollo Inc. owned about 0.39% of IDACORP worth $27,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC raised its position in IDACORP by 115.3% during the 2nd quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock valued at $152,816,000 after purchasing an additional 708,989 shares in the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of IDACORP by 3,215.7% during the second quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after buying an additional 586,221 shares during the period. Soros Fund Management LLC bought a new stake in shares of IDACORP in the second quarter valued at about $46,919,000. BROOKFIELD Corp ON bought a new stake in shares of IDACORP in the second quarter valued at about $33,920,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in IDACORP in the second quarter worth about $29,728,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.6%

NYSE:IDA opened at $126.90 on Friday. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.71 and a beta of 0.61. IDACORP, Inc. has a 52 week low of $104.74 and a 52 week high of $138.03. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $129.19 and a 200 day moving average of $125.66.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. The business had revenue of $524.42 million for the quarter, compared to analyst estimates of $663.09 million. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. During the same period in the previous year, the company earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.8%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is 60.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Morgan Stanley set a $139.00 price objective on shares of IDACORP and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. UBS Group lowered their target price on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Finally, Wells Fargo & Company upgraded IDACORP to a “hold” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, IDACORP currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.88.

IDACORP Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.