Aberdeen Group plc Buys New Position 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 acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 91,216 shares of the energy company's stock, valued at approximately $10,601,000. Aberdeen Group plc owned 0.17% of IDACORP as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elite Financial Inc. bought a new stake in shares of IDACORP in the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its stake in IDACORP by 621.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock valued at $31,000 after buying an additional 230 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in IDACORP in the first quarter worth $34,000. Farther Finance Advisors LLC boosted its holdings in IDACORP by 879.1% in 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 grew its stake in shares of IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

IDA has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Guggenheim upped their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. UBS Group reiterated a "neutral" rating and set a $120.00 price target (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Finally, Morgan Stanley set a $128.00 price objective on shares of IDACORP and gave the stock an "equal weight" rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.86.

IDACORP Stock Performance

IDACORP stock traded down $1.1360 during midday trading on Monday, reaching $126.9140. 217,665 shares of the company traded hands, compared to its average volume of 385,130. IDACORP, Inc. has a 12 month low of $99.81 and a 12 month high of $128.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The business has a 50 day moving average of $120.55 and a two-hundred day moving average of $117.15. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56.

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

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is presently 60.56%.

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.