Cambiar Investors LLC Has $2.23 Million Stock Holdings in IDACORP, Inc. $IDA

Key Points

• Cambiar Investors LLC reduced its holdings in IDACORP by 16.5%, selling 3,795 shares during the first quarter, leaving it with 19,143 shares valued at approximately $2.23 million.
• Several hedge funds increased their stakes in IDACORP significantly during the same period, with Caitong International Asset Management boosting its stake by 621.6%.
• IDACORP recently announced a quarterly dividend of $0.86 per share, marking an annualized yield of 2.7% and a payout ratio of 60.56%.

Cambiar Investors LLC reduced its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,143 shares of the energy company's stock after selling 3,795 shares during the quarter. Cambiar Investors LLC's holdings in IDACORP were worth $2,225,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its position in IDACORP by 9.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock valued at $208,692,000 after acquiring an additional 166,864 shares during the period. Reaves W H & Co. Inc. increased its position in IDACORP by 25.0% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock valued at $145,034,000 after acquiring an additional 249,542 shares during the period. Dimensional Fund Advisors LP increased its position in IDACORP by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 713,023 shares of the energy company's stock valued at $77,920,000 after acquiring an additional 8,819 shares during the period. Jennison Associates LLC acquired a new stake in IDACORP in the 1st quarter valued at approximately $71,437,000. Finally, Lord Abbett & CO. LLC increased its position in IDACORP by 128.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock valued at $60,914,000 after acquiring an additional 294,342 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IDA has been the topic of several analyst reports. Wall Street Zen upgraded 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. Wells Fargo & Company lifted their price target on IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Guggenheim lifted their price target on IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley set a $128.00 price target on IDACORP and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $122.86.

IDACORP Price Performance

Shares of IDA traded up $2.5120 during trading hours on Tuesday, hitting $127.0620. 314,159 shares of the company were exchanged, compared to its average volume of 432,767. The company has a market capitalization of $6.87 billion, a PE ratio of 22.37, a PEG ratio of 2.63 and a beta of 0.56. 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 firm has a fifty day simple moving average of $119.54 and a 200-day simple moving average of $116.65. IDACORP, Inc. has a one year low of $99.81 and a one year high of $127.22.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting the consensus estimate of $1.76. The business had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period last year, the company posted $1.71 EPS. 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 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is 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.