Inspire Investing LLC Has $393,000 Stock Holdings in IDACORP, Inc. $IDA

Inspire Investing LLC grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 14.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,401 shares of the energy company’s stock after acquiring an additional 433 shares during the period. Inspire Investing LLC’s holdings in IDACORP were worth $393,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of IDACORP by 3.2% during the first quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company’s stock valued at $410,970,000 after acquiring an additional 111,182 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of IDACORP by 10.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company’s stock valued at $245,243,000 after acquiring an additional 200,465 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of IDACORP by 0.9% during the first quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company’s stock valued at $161,728,000 after acquiring an additional 12,156 shares during the last quarter. Reaves W H & Co. Inc. raised its stake in shares of IDACORP by 25.0% during the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock valued at $145,034,000 after acquiring an additional 249,542 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of IDACORP during the first quarter valued at $71,437,000. Institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IDA shares. Morgan Stanley dropped their price target on shares of IDACORP from $133.00 to $131.00 and set an “equal weight” rating for the company in a research note on Thursday, September 25th. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. UBS Group reissued a “neutral” rating and set a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $123.29.

IDACORP Trading Down 0.3%

IDA opened at $134.03 on Tuesday. IDACORP, Inc. has a 1-year low of $100.10 and a 1-year high of $135.92. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. The company has a market cap of $7.24 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The company has a fifty day moving average price of $127.41 and a two-hundred day moving average price of $120.58.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.76. The firm had revenue of $531.10 million during the quarter, compared to analysts’ expectations of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same period last year, the company earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 60.56%.

About IDACORP

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.