Callan Family Office LLC Invests $219,000 in IDACORP, Inc. $IDA

Key Points

• Callan Family Office LLC invested $219,000 in IDACORP, Inc. by purchasing 1,898 shares, indicating growing institutional interest in the energy company.
• IDACORP recently announced a quarterly dividend increase to $0.88 per share, reflecting a 2.6% dividend yield and a payout ratio of 60.56%.
• An analyst consensus currently rates IDACORP as a Moderate Buy with an average price target of $123.29, amid varying reports from different research firms.

Callan Family Office LLC bought a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,898 shares of the energy company's stock, valued at approximately $219,000.

Other institutional investors also recently modified their holdings of the company. Elite Financial Inc. purchased a new stake in shares of IDACORP during the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of IDACORP by 621.6% during 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 period. Ameritas Advisory Services LLC purchased a new stake in shares of IDACORP during the second quarter worth about $31,000. Riverview Trust Co purchased a new stake in shares of IDACORP during the second quarter worth about $42,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of IDACORP by 879.1% during 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. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDA has been the subject of several research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a report on Wednesday, October 8th. Morgan Stanley lowered their price objective on shares of IDACORP from $133.00 to $131.00 and set an "equal weight" rating for the company in a report on Thursday, September 25th. UBS Group restated a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, IDACORP presently has a consensus rating of "Moderate Buy" and an average price target of $123.29.

IDACORP Price Performance

Shares of NYSE IDA opened at $135.97 on Friday. IDACORP, Inc. has a fifty-two week low of $100.10 and a fifty-two week high of $137.17. The company has a 50 day simple moving average of $128.27 and a two-hundred day simple moving average of $121.05. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 2.90 and a beta of 0.56. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45.

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 company had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter last year, the firm earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. This is an increase from IDACORP's previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, November 5th. IDACORP's payout ratio is 60.56%.

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.

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