16,759 Shares in IDACORP, Inc. $IDA Acquired by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. has acquired a new position in IDACORP, Inc., purchasing 16,759 shares worth approximately $1.95 million during the first quarter.
• Several analysts have raised their price targets for IDACORP, with Guggenheim setting a new target of $126.00 and Wells Fargo at $125.00, highlighting a consensus rating of "Moderate Buy".
• IDACORP recently declared a quarterly dividend of $0.86 per share, which represents an annualized yield of 2.7% and a payout ratio of 60.56%.

Capital Fund Management S.A. bought a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,759 shares of the energy company's stock, valued at approximately $1,948,000.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in shares of IDACORP in the first quarter valued at about $71,437,000. Ameriprise Financial Inc. grew its holdings in shares of IDACORP by 596.7% during the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock worth $41,451,000 after buying an additional 324,866 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in IDACORP by 128.1% in the first quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock valued at $60,914,000 after purchasing an additional 294,342 shares during the period. Reaves W H & Co. Inc. grew its holdings in IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock valued at $145,034,000 after purchasing an additional 249,542 shares during the period. Finally, Nuveen LLC purchased a new stake in IDACORP in the first quarter valued at approximately $20,478,000. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Up 0.1%

NYSE IDA traded up $0.09 during trading on Friday, hitting $125.17. The stock had a trading volume of 146,047 shares, compared to its average volume of 412,450. The company has a market capitalization of $6.76 billion, a PE ratio of 22.03, a P/E/G ratio of 2.65 and a beta of 0.56. The company's 50-day moving average price is $121.32 and its two-hundred day moving average price is $117.38. 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, Inc. has a 12 month low of $99.81 and a 12 month high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, July 31st. The energy company reported $1.76 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 for the quarter, compared to analysts' expectations of $478.14 million. During the same quarter in the previous year, the business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.86 per share. The ex-dividend date is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP's dividend payout ratio is currently 60.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley set a $133.00 price objective on shares of IDACORP and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Wells Fargo & Company upped their price target on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Guggenheim boosted their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group reiterated a "neutral" rating and set a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.57.

About IDACORP

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.