IDACORP, Inc. $IDA Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in IDACORP, Inc. (NYSE:IDA) by 32.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,212 shares of the energy company’s stock after selling 1,553 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in IDACORP were worth $371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of IDA. Elite Financial Inc. acquired a new stake in shares of IDACORP in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of IDACORP by 621.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock valued at $31,000 after purchasing an additional 230 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of IDACORP in the 2nd quarter valued at $31,000. Riverview Trust Co acquired a new stake in shares of IDACORP in the 2nd quarter valued at $42,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of IDACORP in the 2nd quarter valued at $49,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Price Performance

Shares of NYSE:IDA opened at $135.78 on Thursday. 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 firm has a market capitalization of $7.34 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.90 and a beta of 0.56. IDACORP, Inc. has a 12 month low of $100.10 and a 12 month high of $138.03. The company’s fifty day moving average price is $128.91 and its 200 day moving average price is $121.43.

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

IDACORP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is presently 60.56%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. UBS Group restated a “neutral” rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Jefferies Financial Group lifted their price target on shares of IDACORP from $144.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley reiterated an “outperform” rating and set a $141.00 price target on shares of IDACORP in a research note on Wednesday. BTIG Research initiated coverage on shares of IDACORP in a research note on Tuesday. They set a “buy” rating and a $157.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $133.38.

IDACORP Company 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.