AQR Capital Management LLC Buys 5,598 Shares of 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 lifted its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 8.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,673 shares of the energy company's stock after acquiring an additional 5,598 shares during the quarter. AQR Capital Management LLC owned 0.14% of IDACORP worth $8,546,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IDA. Captrust Financial Advisors increased its holdings in shares of IDACORP by 7.9% during the fourth quarter. Captrust Financial Advisors now owns 7,432 shares of the energy company's stock valued at $812,000 after acquiring an additional 544 shares in the last quarter. Cetera Investment Advisers raised its stake in IDACORP by 21.2% in the 4th quarter. Cetera Investment Advisers now owns 8,707 shares of the energy company's stock worth $952,000 after acquiring an additional 1,522 shares during the last quarter. Deutsche Bank AG raised its stake in IDACORP by 0.7% in the 4th quarter. Deutsche Bank AG now owns 119,566 shares of the energy company's stock worth $13,066,000 after acquiring an additional 834 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in IDACORP in the 4th quarter worth $213,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in IDACORP in the 4th quarter worth $362,000. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Trading Down 0.5%

Shares of IDACORP stock traded down $0.58 during trading hours on Tuesday, reaching $125.04. 216,195 shares of the company's stock were exchanged, compared to its average volume of 407,064. IDACORP, Inc. has a 52-week low of $99.81 and a 52-week high of $128.50. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 2.62 and a beta of 0.59. 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 company has a fifty day moving average of $123.69 and a 200-day moving average of $118.44.

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 (EPS) for the quarter, meeting the consensus estimate of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The firm had revenue of $531.10 million during the quarter, compared to the consensus estimate 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. Sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed 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 was Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.8%. IDACORP's payout ratio is currently 60.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IDA shares. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley set a $133.00 price target on IDACORP and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, UBS Group restated a "neutral" rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, IDACORP has an average 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.