Boston Trust Walden Corp Grows Stock Holdings in IDACORP, Inc. $IDA

Boston Trust Walden Corp raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 1.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 566,732 shares of the energy company’s stock after buying an additional 7,250 shares during the period. Boston Trust Walden Corp’s holdings in IDACORP were worth $65,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Elite Financial Inc. purchased a new position in IDACORP in the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in IDACORP by 621.6% in the first 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 during the period. Ameritas Advisory Services LLC purchased a new position in IDACORP in the second quarter valued at $31,000. Opal Wealth Advisors LLC purchased a new position in IDACORP in the first quarter valued at $34,000. Finally, Riverview Trust Co purchased a new position in IDACORP in the second quarter valued at $42,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Stock Down 0.3%

Shares of NYSE IDA opened at $134.03 on Tuesday. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. 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 business has a 50-day moving average of $127.41 and a two-hundred day moving average of $120.58. IDACORP, Inc. has a 1 year low of $100.10 and a 1 year high of $135.92.

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

IDACORP Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Morgan Stanley decreased their target price on IDACORP from $133.00 to $131.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, UBS Group reiterated a “neutral” rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, IDACORP presently has an average rating of “Moderate Buy” and a consensus target price of $123.29.

IDACORP 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.