IDACORP, Inc. $IDA Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 24.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,278 shares of the energy company’s stock after selling 23,982 shares during the quarter. Russell Investments Group Ltd.’s holdings in IDACORP were worth $8,633,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in IDACORP by 9.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company’s stock valued at $208,692,000 after acquiring an additional 166,864 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock valued at $145,034,000 after acquiring an additional 249,542 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in IDACORP by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 713,023 shares of the energy company’s stock valued at $77,920,000 after acquiring an additional 8,819 shares in the last quarter. Jennison Associates LLC acquired a new stake in IDACORP in the first quarter valued at approximately $71,437,000. Finally, Northern Trust Corp raised its holdings in IDACORP by 16.5% in the fourth quarter. Northern Trust Corp now owns 454,357 shares of the energy company’s stock valued at $49,652,000 after acquiring an additional 64,447 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDACORP stock opened at $127.0620 on Wednesday. The firm has a market capitalization of $6.87 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.63 and a beta of 0.56. IDACORP, Inc. has a 52 week low of $99.81 and a 52 week high of $127.22. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The firm’s 50 day moving average is $119.54 and its two-hundred day moving average is $116.65.

IDACORP (NYSE:IDA) last announced its 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 business 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 last year, the firm posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.86 per share. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP’s dividend payout ratio (DPR) is 60.56%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IDA shares. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. UBS Group reaffirmed a “neutral” rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Wells Fargo & Company raised their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 price target on shares of IDACORP and gave the company an “equal weight” rating in a research note on Thursday, May 22nd. Finally, Guggenheim increased their price target on shares of IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $122.86.

About IDACORP

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.