Deroy & Devereaux Private Investment Counsel Inc. Acquires Shares of 162,591 IDACORP, Inc. $IDA

Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of IDACORP, Inc. (NYSE:IDA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 162,591 shares of the energy company’s stock, valued at approximately $21,486,000. Deroy & Devereaux Private Investment Counsel Inc. owned 0.30% of IDACORP as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock worth $690,000 after buying an additional 2,625 shares during the period. Goldman Sachs Group Inc. raised its holdings in IDACORP by 6.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after acquiring an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after acquiring an additional 10,855 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of IDACORP by 104.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,073 shares of the energy company’s stock worth $125,000 after acquiring an additional 549 shares during the period. Finally, Voya Investment Management LLC grew its position in shares of IDACORP by 4.6% in the first quarter. Voya Investment Management LLC now owns 8,098 shares of the energy company’s stock valued at $941,000 after purchasing an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.3%

IDA stock opened at $132.58 on Friday. The company’s 50 day moving average is $127.92 and its 200 day moving average is $126.96. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a 1-year low of $106.93 and a 1-year high of $138.03.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. The business had revenue of $524.42 million during 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 business posted $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 fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 5th will be given a $0.88 dividend. The ex-dividend date is Thursday, February 5th. This represents a $3.52 annualized dividend and a yield of 2.7%. IDACORP’s payout ratio is 60.48%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IDA shares. Barclays initiated coverage on IDACORP in a research note on Wednesday. They set an “overweight” rating and a $144.00 price objective on the stock. BTIG Research upgraded IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $152.00 target price on shares of IDACORP in a report on Monday, December 1st. Finally, Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $138.56.

IDACORP Company 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.