AlphaQuest LLC Grows Stock Position in IDACORP, Inc. $IDA

AlphaQuest LLC increased its holdings in IDACORP, Inc. (NYSE:IDA) by 46.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,272 shares of the energy company’s stock after purchasing an additional 1,035 shares during the quarter. AlphaQuest LLC’s holdings in IDACORP were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IDA. Elite Financial Inc. purchased a new stake in shares of IDACORP in the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd boosted its position 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 worth $31,000 after buying an additional 230 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of IDACORP in the 2nd quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of IDACORP in the 2nd quarter worth about $42,000. Finally, Byrne Asset Management LLC purchased a new stake in shares of IDACORP in the 2nd quarter worth about $49,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IDA shares. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research note on Tuesday. Mizuho boosted their target price on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.38.

IDACORP Trading Down 2.0%

NYSE IDA opened at $131.10 on Friday. IDACORP, Inc. has a 12 month low of $100.10 and a 12 month high of $138.03. The company has a 50-day moving average of $129.91 and a 200-day moving average of $122.30. 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 company has a market cap of $7.08 billion, a P/E ratio of 23.08, a P/E/G ratio of 2.86 and a beta of 0.56.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The company had revenue of $663.69 million during the quarter, compared to the consensus estimate of $663.09 million. During the same quarter in the prior year, the company posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, equities analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, November 5th. This is an increase from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is presently 60.56%.

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.