Public Employees Retirement System of Ohio purchased a new position in shares of IDACORP, Inc. (NYSE:IDA – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,780 shares of the energy company’s stock, valued at approximately $2,690,000.
Other institutional investors have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. bought a new position in IDACORP during the 2nd quarter worth $25,000. Western Wealth Management LLC bought a new stake in shares of IDACORP in the first quarter valued at about $29,000. Trust Co. of Vermont acquired a new position in shares of IDACORP in the second quarter valued at about $30,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of IDACORP in the second quarter valued at about $33,000. Finally, Caitong International Asset Management Co. Ltd increased its position in IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares during the period. 89.10% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts have weighed in on IDA shares. Barclays dropped 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. Wells Fargo & Company lifted their price target on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Finally, Morgan Stanley lowered their price objective on IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.86.
IDACORP Stock Performance
Shares of IDACORP stock opened at $135.62 on Friday. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. The firm has a market capitalization of $7.84 billion, a P/E ratio of 22.45, a P/E/G ratio of 2.34 and a beta of 0.47. The company’s 50 day moving average price is $144.41 and its two-hundred day moving average price is $143.39.
IDACORP (NYSE:IDA – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The company had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. During the same period in the prior year, the business earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.
IDACORP Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 5th. IDACORP’s dividend payout ratio is presently 58.28%.
IDACORP Company 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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