IDACORP, Inc. $IDA Shares Purchased by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has increased its stake in IDACORP, Inc. to approximately $161.73 million, owning about 2.58% of the company as of the most recent reporting period.
• IDACORP reported a net revenue of $531.10 million for the latest quarter, exceeding analysts' expectations of $478.14 million, and EPS of $1.76, meeting consensus estimates.
• The company declared a quarterly dividend of $0.86 per share, reflecting an annualized dividend yield of 2.7%, with a dividend payout ratio of 60.56%.

Alliancebernstein L.P. boosted its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,391,564 shares of the energy company's stock after buying an additional 12,156 shares during the quarter. Alliancebernstein L.P. owned 2.58% of IDACORP worth $161,728,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of IDA. Voya Investment Management LLC raised its position in IDACORP by 17.7% during the 4th quarter. Voya Investment Management LLC now owns 7,745 shares of the energy company's stock worth $846,000 after buying an additional 1,167 shares during the last quarter. Northern Trust Corp increased its holdings in shares of IDACORP by 16.5% during the 4th quarter. Northern Trust Corp now owns 454,357 shares of the energy company's stock valued at $49,652,000 after purchasing an additional 64,447 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of IDACORP by 21.5% during the 4th quarter. AQR Capital Management LLC now owns 68,075 shares of the energy company's stock valued at $7,439,000 after purchasing an additional 12,066 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of IDACORP by 596.7% during the 4th quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after purchasing an additional 324,866 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of IDACORP by 7.9% during the 4th quarter. Captrust Financial Advisors now owns 7,432 shares of the energy company's stock valued at $812,000 after purchasing an additional 544 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

IDA traded up $0.56 on Wednesday, hitting $125.08. 42,269 shares of the company's stock were exchanged, compared to its average volume of 409,024. IDACORP, Inc. has a fifty-two week low of $99.81 and a fifty-two week high of $128.50. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $122.92 and a 200-day moving average price of $118.16. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.58 and a beta of 0.59.

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 firm had revenue of $531.10 million for 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 previous year, the company posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.8%. IDACORP's payout ratio is presently 60.56%.

Wall Street Analyst Weigh In

IDA has been the subject of several recent research reports. UBS Group reaffirmed a "neutral" rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Morgan Stanley set a $133.00 target price on shares of IDACORP and gave the company an "outperform" rating in a report on Thursday, August 21st. 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.57.

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.