Energy Income Partners LLC Boosts Stock Position in IDACORP, Inc. $IDA

Key Points

• Energy Income Partners LLC increased its stakes in IDACORP, Inc. by 55.3% during the first quarter, now owning 0.60% of the company valued at $37.54 million.
• IDACORP reported a quarterly earnings per share of $1.76, meeting analysts' expectations, with quarterly revenue of $531.10 million, exceeding the consensus estimate.
• The company's recent dividend announcement includes a payment of $0.86 per share, corresponding to an annualized yield of 2.8%.

Energy Income Partners LLC boosted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 55.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 323,029 shares of the energy company's stock after buying an additional 114,963 shares during the quarter. Energy Income Partners LLC owned approximately 0.60% of IDACORP worth $37,542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDA. Elite Financial Inc. bought a new position in shares of IDACORP in the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd raised its position in shares of IDACORP by 621.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock worth $31,000 after acquiring an additional 230 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of IDACORP in the 1st quarter worth about $34,000. Farther Finance Advisors LLC raised its position in shares of IDACORP by 879.1% in the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock worth $49,000 after acquiring an additional 378 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after acquiring an additional 125 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of NYSE IDA traded up $0.45 during midday trading on Thursday, reaching $125.16. The company's stock had a trading volume of 439,633 shares, compared to its average volume of 411,836. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $128.50. The firm has a 50 day moving average price of $122.15 and a 200-day moving average price of $117.76. The stock has a market capitalization of $6.76 billion, a P/E ratio of 22.04, a PEG ratio of 2.62 and a beta of 0.59. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results 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 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 the consensus estimate of $478.14 million. During the same quarter in the previous year, the business earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP's dividend payout ratio is currently 60.56%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley set a $133.00 price objective on IDACORP and gave the stock an "outperform" rating in a research report on Thursday, August 21st. UBS Group reaffirmed a "neutral" rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Finally, Wall Street Zen raised 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. According to data from MarketBeat, IDACORP currently has an average 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.