AQR Capital Management LLC Acquires 5,598 Shares of IDACORP, Inc. $IDA

AQR Capital Management LLC raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,673 shares of the energy company’s stock after purchasing an additional 5,598 shares during the quarter. AQR Capital Management LLC’s holdings in IDACORP were worth $8,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Elite Financial Inc. acquired a new position in shares of IDACORP in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its position 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 acquiring an additional 230 shares during the period. Opal Wealth Advisors LLC acquired a new position in IDACORP during the first quarter worth $34,000. Farther Finance Advisors LLC raised its stake in IDACORP by 879.1% during the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock worth $49,000 after acquiring an additional 378 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of IDACORP by 39.7% during the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company’s stock valued at $51,000 after acquiring an additional 125 shares during the period. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

IDACORP stock opened at $125.87 on Friday. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $128.50. The stock has a 50-day simple moving average of $123.32 and a 200 day simple moving average of $118.28. 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 stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 2.61 and a beta of 0.59.

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

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were issued a $0.86 dividend. The ex-dividend date of this dividend was 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 currently 60.56%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. 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. Morgan Stanley set a $133.00 price target on shares of IDACORP and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, IDACORP presently has a consensus rating of “Moderate Buy” and an average target price of $123.57.

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.