Ancora Advisors LLC Sells 2,850 Shares of IDACORP, Inc. $IDA

Key Points

• Ancora Advisors LLC reduced its stake in IDACORP, Inc. by 40.7%, selling 2,850 shares, leaving the fund with 4,150 shares valued at approximately $482,000.
• IDACORP reported quarterly earnings of $1.76 per share, matching analysts' expectations, with revenues reaching $531.10 million, surpassing estimated revenues of $478.14 million.
• The company announced a quarterly dividend of $0.86 per share, representing an annualized yield of 2.7%, with a payout ratio of 60.56%.

Ancora Advisors LLC decreased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 40.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,150 shares of the energy company's stock after selling 2,850 shares during the quarter. Ancora Advisors LLC's holdings in IDACORP were worth $482,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Elite Financial Inc. bought a new position in shares of IDACORP during the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 purchasing an additional 230 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of IDACORP in the first quarter worth approximately $34,000. Farther Finance Advisors LLC boosted its position in shares of 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 purchasing an additional 378 shares during the period. Finally, Versant Capital Management Inc increased 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 purchasing an additional 125 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Price Performance

NYSE IDA traded up $0.81 during trading on Thursday, hitting $125.87. 227,167 shares of the stock traded hands, compared to its average volume of 307,154. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $128.50. The firm has a 50-day simple moving average of $123.32 and a 200-day simple moving average of $118.28. The company has a market capitalization of $6.80 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.61 and a beta of 0.59.

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

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP's payout ratio is currently 60.56%.

Analyst Upgrades and Downgrades

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 company an "outperform" rating in a research note on Thursday, August 21st. Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, UBS Group restated a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently 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.