Acadian Asset Management LLC Acquires 3,395 Shares of IDACORP, Inc. $IDA

Key Points

• Acadian Asset Management LLC increased its stake in IDACORP, Inc. by 9.6% to approximately $4.50 million, owning 38,704 shares as of the end of the first quarter.
• IDACORP reported $1.76 earnings per share for the last quarter, aligning with analyst expectations, with revenue significantly exceeding estimates at $531.10 million.
• The company recently declared a quarterly dividend of $0.86 per share, yielding 2.7%, with a payout ratio of 60.56%.

Acadian Asset Management LLC increased its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,704 shares of the energy company's stock after acquiring an additional 3,395 shares during the period. Acadian Asset Management LLC owned approximately 0.07% of IDACORP worth $4,496,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in IDACORP by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company's stock worth $410,970,000 after acquiring an additional 111,182 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in IDACORP by 10.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock worth $245,243,000 after acquiring an additional 200,465 shares during the period. Alliancebernstein L.P. increased its holdings in IDACORP by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company's stock worth $161,728,000 after acquiring an additional 12,156 shares during the period. Reaves W H & Co. Inc. increased its holdings in IDACORP by 25.0% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock worth $145,034,000 after acquiring an additional 249,542 shares during the period. Finally, Jennison Associates LLC bought a new stake in IDACORP during the 1st quarter worth approximately $71,437,000. Institutional investors own 89.10% of the company's stock.

IDACORP Trading Up 0.2%

IDA traded up $0.20 during trading on Friday, hitting $125.81. 888,460 shares of the stock traded hands, compared to its average volume of 301,582. The firm has a market capitalization of $6.80 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. 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 firm has a 50-day moving average of $124.34 and a 200 day moving average of $118.65. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The business had revenue of $531.10 million during the quarter, compared to analysts' expectations 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 prior year, the company posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

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

Analyst Ratings Changes

IDA has been the topic of a number of analyst reports. Morgan Stanley set a $133.00 target price on shares of IDACORP and gave the stock an "outperform" rating in a report on Thursday, August 21st. UBS Group reissued a "neutral" rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Finally, Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $123.57.

IDACORP Company 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.