HighTower Advisors LLC Buys 7,189 Shares of IDACORP, Inc. $IDA

Key Points

• HighTower Advisors LLC increased its stake in IDACORP, Inc. by 133.8%, acquiring an additional 7,189 shares, bringing their total holdings to 12,561 shares valued at $1.46 million.
• IDACORP recently reported earnings of $1.76 per share, meeting analysts' estimates, with third-quarter revenues reaching $531.1 million, surpassing expectations.
• The company declared a quarterly dividend of $0.86, with a dividend yield of 2.7%, set to be paid on September 2nd to stockholders recorded by August 5th.

HighTower Advisors LLC raised its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 133.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,561 shares of the energy company's stock after purchasing an additional 7,189 shares during the quarter. HighTower Advisors LLC's holdings in IDACORP were worth $1,460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV increased its stake in IDACORP by 21.2% during the 1st quarter. KBC Group NV now owns 2,350 shares of the energy company's stock valued at $273,000 after purchasing an additional 411 shares in the last quarter. GAMMA Investing LLC increased its stake in IDACORP by 20.8% during the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock valued at $86,000 after purchasing an additional 127 shares in the last quarter. Teacher Retirement System of Texas increased its stake in IDACORP by 103.0% during the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock valued at $986,000 after purchasing an additional 4,305 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in IDACORP by 7.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock valued at $765,000 after purchasing an additional 456 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in IDACORP by 318.9% during the 1st quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company's stock valued at $163,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group restated a "neutral" rating and set a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Morgan Stanley set a $133.00 price target on shares of IDACORP and gave the company an "outperform" rating in a research note on Thursday, August 21st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, IDACORP has a consensus rating of "Moderate Buy" and an average target price of $123.57.

IDACORP Stock Down 0.0%

Shares of NYSE IDA traded down $0.06 during trading on Friday, hitting $125.02. The stock had a trading volume of 332,298 shares, compared to its average volume of 336,222. IDACORP, Inc. has a 12 month low of $99.81 and a 12 month high of $128.50. 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 has a market capitalization of $6.75 billion, a PE ratio of 22.01, a PEG ratio of 2.62 and a beta of 0.59. The firm has a fifty day moving average of $121.55 and a two-hundred day moving average of $117.56.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analyst estimates of $478.14 million. During the same quarter in the prior year, the business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced 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 is Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.8%. IDACORP's dividend 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.