AQR Capital Management LLC Increases Stock Holdings in IDACORP, Inc. $IDA

Key Points

• AQR Capital Management LLC increased its holdings in IDACORP, Inc. by 8.2%, owning 73,673 shares valued at approximately $8.55 million as of the latest SEC filing.
• Recent analyst ratings for IDACORP show a mix of assessments, with UBS Group maintaining a "neutral" rating and setting a price target of $120.00, while Morgan Stanley recommended it as "outperform" with a target of $133.00.
• IDACORP reported earnings of $1.76 per share, meeting consensus expectations, and declared a quarterly dividend of $0.86, reflecting an annual yield of 2.7%.

AQR Capital Management LLC increased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,673 shares of the energy company's stock after purchasing an additional 5,598 shares during the period. AQR Capital Management LLC owned approximately 0.14% of IDACORP worth $8,546,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Elite Financial Inc. bought a new position in shares of IDACORP in the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of IDACORP by 621.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock worth $31,000 after purchasing an additional 230 shares during 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 increased 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 last quarter. Finally, Versant Capital Management Inc increased its position 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 during the last quarter. 89.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IDA shares. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group reiterated a "neutral" rating and set a $120.00 price target (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Finally, Morgan Stanley set a $133.00 price target on shares of IDACORP and gave the company an "outperform" rating in a research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.57.

IDACORP Trading Up 0.5%

Shares of IDACORP stock traded up $0.64 on Wednesday, hitting $125.18. The stock had a trading volume of 336,519 shares, compared to its average volume of 312,901. 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 one year low of $99.81 and a one year high of $128.50. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.60 and a beta of 0.59. The stock's 50-day simple moving average is $124.02 and its two-hundred day simple moving average is $118.53.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results 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 net margin of 16.96% and a return on equity of 9.18%. The firm had revenue of $531.10 million for the quarter, compared to analysts' expectations of $478.14 million. During the same quarter last 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 predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. 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.