Aberdeen Group plc Buys 24,762 Shares of IDACORP, Inc. $IDA

Key Points

• Aberdeen Group plc increased its stake in IDACORP, Inc. by 27.1% in the second quarter, acquiring an additional 24,762 shares, resulting in total ownership of 115,978 shares worth approximately $13.39 million.
• Institutional investors currently hold 89.10% of IDACORP's stock, with multiple firms significantly increasing their stakes during the first quarter.
• IDACORP reported earnings of $1.76 per share for the last quarter, meeting analysts' estimates, and expects an FY 2025 earnings range of 5.700-5.850 EPS.

Aberdeen Group plc raised its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 27.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,978 shares of the energy company's stock after acquiring an additional 24,762 shares during the period. Aberdeen Group plc owned about 0.21% of IDACORP worth $13,390,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after purchasing an additional 378 shares during the period. GAMMA Investing LLC raised its stake in shares of IDACORP by 20.8% during the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after purchasing an additional 127 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of IDACORP by 7.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock worth $765,000 after purchasing an additional 456 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of IDACORP during the 1st quarter worth $818,000. Finally, CENTRAL TRUST Co raised its stake in shares of IDACORP by 63.7% during the 1st quarter. CENTRAL TRUST Co now owns 1,362 shares of the energy company's stock worth $158,000 after purchasing an additional 530 shares during the period. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

NYSE:IDA opened at $135.81 on Thursday. The business has a 50 day moving average of $127.82 and a 200 day moving average of $120.79. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.89 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $100.10 and a 1-year high of $136.78. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12.

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

Wall Street Analysts Forecast Growth

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

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