Anchor Capital Advisors LLC Acquires 254,421 Shares of IDACORP, Inc. $IDA

Anchor Capital Advisors LLC lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 150.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 423,402 shares of the energy company’s stock after buying an additional 254,421 shares during the quarter. IDACORP makes up about 1.6% of Anchor Capital Advisors LLC’s portfolio, making the stock its 11th biggest position. Anchor Capital Advisors LLC owned 0.78% of IDACORP worth $55,953,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $690,000 after acquiring an additional 2,625 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of IDACORP by 8.2% in 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 purchasing an additional 10,855 shares during the last quarter. Voya Investment Management LLC increased its stake in IDACORP by 4.6% in the 1st quarter. Voya Investment Management LLC now owns 8,098 shares of the energy company’s stock worth $941,000 after buying an additional 353 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in IDACORP by 134.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,402 shares of the energy company’s stock worth $1,786,000 after buying an additional 8,819 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Morgan Stanley set a $139.00 price target on shares of IDACORP and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Barclays initiated coverage on IDACORP in a report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Finally, BTIG Research raised IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and an average price target of $137.33.

IDACORP Trading Down 1.0%

IDACORP stock opened at $133.20 on Wednesday. The stock has a 50-day moving average price of $128.22 and a 200 day moving average price of $127.51. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 2.62 and a beta of 0.61. IDACORP, Inc. has a 52 week low of $107.27 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.

IDACORP (NYSE:IDA) last issued its 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 firm had revenue of $524.42 million during the quarter, compared to analysts’ expectations of $663.09 million. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. 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 EPS for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, February 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

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.