Banco Bilbao Vizcaya Argentaria S.A. Purchases Shares of 2,552 IDACORP, Inc. $IDA

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. initiated a new investment in IDACORP, purchasing 2,552 shares valued at approximately $295,000 during the first quarter.
• IDACORP recently reported earnings of $1.76 per share, meeting the consensus estimate, and generated revenues of $531.10 million, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.86 per share, with a dividend yield of 2.7%, set to be paid on September 2nd.

Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,552 shares of the energy company's stock, valued at approximately $295,000.

Other hedge funds have also recently modified their holdings of the company. Principal Securities Inc. lifted its holdings in IDACORP by 2.1% in the first quarter. Principal Securities Inc. now owns 4,410 shares of the energy company's stock valued at $482,000 after acquiring an additional 92 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of IDACORP by 4.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock valued at $289,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System boosted its holdings in IDACORP by 0.8% during the first quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company's stock worth $1,478,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its position in IDACORP by 0.7% during the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company's stock valued at $1,732,000 after buying an additional 100 shares during the period. Finally, Wood Tarver Financial Group LLC grew its position in IDACORP by 3.2% during the first quarter. Wood Tarver Financial Group LLC now owns 3,814 shares of the energy company's stock valued at $443,000 after buying an additional 117 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Trading Down 0.0%

Shares of IDA stock traded down $0.06 during trading hours on Friday, hitting $125.02. The company had a trading volume of 332,298 shares, compared to its average volume of 342,683. 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 stock has a market capitalization of $6.75 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.62 and a beta of 0.56. The company's fifty day moving average is $121.55 and its 200 day moving average is $117.52. IDACORP, Inc. has a fifty-two week low of $99.81 and a fifty-two week high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The company had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. During the same quarter in the previous year, the company earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is 60.56%.

Wall Street Analysts Forecast Growth

IDA has been the topic of several recent analyst reports. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. UBS Group reaffirmed 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. Morgan Stanley set a $133.00 price target on shares of IDACORP and gave the company an "outperform" rating in a research note on Thursday, August 21st. Wells Fargo & Company raised their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Guggenheim lifted their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.