Capstone Investment Advisors LLC acquired a new position in IDACORP, Inc. (NYSE:IDA – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,120 shares of the energy company’s stock, valued at approximately $1,531,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AssuredPartners Investment Advisors LLC raised its stake in IDACORP by 5.1% in the fourth quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock valued at $209,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of IDACORP by 48.0% during the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock valued at $38,000 after acquiring an additional 98 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of IDACORP by 1.6% during the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company’s stock valued at $927,000 after acquiring an additional 103 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of IDACORP by 1.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock valued at $758,000 after purchasing an additional 106 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of IDACORP by 0.9% in the 4th quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after purchasing an additional 106 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on IDA. Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Barclays lowered their price objective on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd. Finally, BTIG Research restated a “buy” rating and issued a $160.00 target price on shares of IDACORP in a research note on Thursday, July 23rd. Six research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.86.
IDACORP Price Performance
Shares of NYSE:IDA opened at $137.67 on Friday. IDACORP, Inc. has a twelve month low of $122.30 and a twelve month high of $154.91. The company’s 50 day moving average is $145.68 and its 200 day moving average is $143.56. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The company has a market cap of $7.96 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 2.38 and a beta of 0.48.
IDACORP (NYSE:IDA – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. The business had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same period in the previous year, the business posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, sell-side analysts forecast that IDACORP, Inc. will post 6.38 EPS for the current year.
IDACORP Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. IDACORP’s payout ratio is currently 58.28%.
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.
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