Aberdeen Group plc Makes New $10.60 Million Investment in IDACORP, Inc. $IDA

Key Points

• Aberdeen Group plc acquired a new stake in IDACORP, Inc., purchasing 91,216 shares valued at approximately $10,601,000, representing 0.17% ownership of the company.
• IDACORP reported earnings of $1.76 per share for the last quarter, meeting consensus estimates, with total revenue of $531.10 million surpassing projected figures.
• The company announced a quarterly dividend of $0.86, with an annualized dividend yield of 2.7% and a payout ratio of 60.56%.

Aberdeen Group plc bought a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 91,216 shares of the energy company's stock, valued at approximately $10,601,000. Aberdeen Group plc owned approximately 0.17% of IDACORP at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IDA. Barclays PLC lifted its position in shares of IDACORP by 53.0% in the fourth quarter. Barclays PLC now owns 41,584 shares of the energy company's stock worth $4,545,000 after buying an additional 14,400 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of IDACORP by 2,580.8% in the fourth quarter. NewEdge Advisors LLC now owns 1,957 shares of the energy company's stock worth $214,000 after buying an additional 1,884 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of IDACORP by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 713,023 shares of the energy company's stock worth $77,920,000 after buying an additional 8,819 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of IDACORP in the fourth quarter worth about $158,000. Finally, MetLife Investment Management LLC lifted its position in shares of IDACORP by 9.3% in the fourth quarter. MetLife Investment Management LLC now owns 30,026 shares of the energy company's stock worth $3,281,000 after buying an additional 2,550 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Trading Up 1.3%

NYSE:IDA traded up $1.6170 during midday trading on Friday, hitting $128.0170. The stock had a trading volume of 291,601 shares, compared to its average volume of 398,434. The stock has a 50-day moving average of $120.26 and a 200 day moving average of $116.99. 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 company has a market capitalization of $6.92 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.68 and a beta of 0.56. IDACORP, Inc. has a one year low of $99.81 and a one year high of $128.40.

IDACORP (NYSE:IDA - Get Free Report) last posted 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. The company had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter in the prior year, the business earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be issued 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 yield of 2.7%. IDACORP's dividend payout ratio is currently 60.56%.

Analyst Upgrades and Downgrades

IDA has been the topic of several analyst reports. Guggenheim boosted their price objective on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group reissued a "neutral" rating and set a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wells Fargo & Company boosted their price objective on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Morgan Stanley set a $128.00 price objective on IDACORP and gave the stock an "equal weight" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.