Gamco Investors INC. ET AL Invests $479,000 in IDACORP, Inc. $IDA

Key Points

• Gamco Investors INC. ET AL made a new investment in IDACORP, Inc., acquiring 4,125 shares valued at approximately $479,000 in the 1st quarter of the year.
• IDACORP announced a quarterly dividend of $0.86, equating to an annualized dividend yield of 2.8%, with a payout ratio of 60.56%.
• Analysts forecast that IDACORP will achieve a price target of $123.57, with a consensus rating of "Moderate Buy" from multiple research firms.

Gamco Investors INC. ET AL bought a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,125 shares of the energy company's stock, valued at approximately $479,000.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp lifted its stake in IDACORP by 7.1% during the fourth quarter. Stifel Financial Corp now owns 26,406 shares of the energy company's stock worth $2,886,000 after purchasing an additional 1,749 shares during the last quarter. Voya Investment Management LLC grew its position in shares of IDACORP by 17.7% in the 4th quarter. Voya Investment Management LLC now owns 7,745 shares of the energy company's stock valued at $846,000 after buying an additional 1,167 shares during the last quarter. Northern Trust Corp grew its position in shares of IDACORP by 16.5% in the 4th quarter. Northern Trust Corp now owns 454,357 shares of the energy company's stock valued at $49,652,000 after buying an additional 64,447 shares during the last quarter. AQR Capital Management LLC raised its stake in IDACORP by 21.5% during the 4th quarter. AQR Capital Management LLC now owns 68,075 shares of the energy company's stock worth $7,439,000 after acquiring an additional 12,066 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in IDACORP in the fourth quarter valued at $295,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Performance

Shares of IDA stock traded down $0.54 during midday trading on Thursday, hitting $124.18. The company had a trading volume of 84,315 shares, compared to its average volume of 411,571. The stock has a market cap of $6.71 billion, a price-to-earnings ratio of 21.86, 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. The company's 50 day simple moving average is $122.15 and its 200 day simple moving average is $117.76. IDACORP, Inc. has a 52-week low of $99.81 and a 52-week high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $478.14 million. During the same period last year, the company earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 5th. IDACORP's payout ratio is 60.56%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IDA shares. UBS Group reaffirmed a "neutral" rating and set 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 price target on IDACORP and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, IDACORP has a consensus rating of "Moderate Buy" and a consensus target price of $123.57.

IDACORP Company 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.