Capital Fund Management S.A. Makes New Investment in IDACORP, Inc. $IDA

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. acquired a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,759 shares of the energy company's stock, valued at approximately $1,948,000.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC grew its holdings in shares of IDACORP by 53.0% during the fourth quarter. Barclays PLC now owns 41,584 shares of the energy company's stock worth $4,545,000 after buying an additional 14,400 shares in the last quarter. NewEdge Advisors LLC grew its stake in IDACORP by 2,580.8% during the 4th quarter. NewEdge Advisors LLC now owns 1,957 shares of the energy company's stock valued at $214,000 after acquiring an additional 1,884 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 last quarter. MetLife Investment Management LLC lifted its stake in IDACORP by 9.3% in the 4th quarter. MetLife Investment Management LLC now owns 30,026 shares of the energy company's stock worth $3,281,000 after purchasing an additional 2,550 shares in the last quarter. Finally, State of Tennessee Department of Treasury boosted its holdings in shares of IDACORP by 79.2% during the 4th quarter. State of Tennessee Department of Treasury now owns 25,942 shares of the energy company's stock worth $2,835,000 after purchasing an additional 11,465 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Analysts Set New Price Targets

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

IDACORP Trading Down 0.0%

Shares of IDA traded down $0.06 during trading on Friday, reaching $125.02. 332,298 shares of the company traded hands, compared to its average volume of 342,683. The stock has a 50-day simple moving average of $121.55 and a 200-day simple moving average of $117.52. The stock has a market cap 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. IDACORP, Inc. has a twelve month low of $99.81 and a twelve month high of $128.50. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting analysts' consensus estimates of $1.76. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The firm had revenue of $531.10 million during the quarter, compared to analysts' expectations of $478.14 million. During the same quarter last year, the company posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company 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 $0.86 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.8%. IDACORP's payout ratio is presently 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.