Fox Run Management L.L.C. Reduces Stock Position in IDACORP, Inc. $IDA

Key Points

• Fox Run Management L.L.C. has significantly reduced its stake in IDACORP, Inc. by 72.7% during Q1, now holding only 2,292 shares valued at $266,000 after selling 6,101 shares.
• Other institutional investors have increased their holdings in IDACORP, with T. Rowe Price raising its position by 9.6% and Lord Abbett & CO. increasing theirs by 128.1% in the same quarter.
• IDACORP recently reported earnings of $1.76 per share, meeting analyst expectations, with revenue of $531.10 million, which also surpassed predictions.

Fox Run Management L.L.C. cut its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 72.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,292 shares of the energy company's stock after selling 6,101 shares during the period. Fox Run Management L.L.C.'s holdings in IDACORP were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of IDACORP by 53.0% in the 4th quarter. Barclays PLC now owns 41,584 shares of the energy company's stock valued at $4,545,000 after buying an additional 14,400 shares during the period. NewEdge Advisors LLC lifted its holdings in IDACORP by 2,580.8% in the fourth 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 during the period. Dimensional Fund Advisors LP boosted 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 worth $77,920,000 after purchasing an additional 8,819 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in IDACORP in the 4th quarter worth approximately $158,000. Finally, MetLife Investment Management LLC grew its stake in shares of IDACORP by 9.3% during 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 during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IDA shares. Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Guggenheim increased their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Wells Fargo & Company increased their price target on IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, UBS Group restated a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $122.86.

IDACORP Price Performance

Shares of NYSE:IDA traded down $1.1360 during trading on Monday, reaching $126.9140. The stock had a trading volume of 217,665 shares, compared to its average volume of 385,130. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The business has a fifty day moving average price of $120.55 and a 200-day moving average price of $117.15. The stock has a market cap of $6.86 billion, a PE ratio of 22.34, a PEG ratio of 2.68 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $99.81 and a 1-year high of $128.50.

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

IDACORP Dividend Announcement

The firm also recently declared 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. 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 currently 60.56%.

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.