IDACORP, Inc. $IDA Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp has increased its holdings in IDACORP, Inc. by 2.1%, acquiring a total of 463,791 shares valued at approximately $53.9 million.
• IDACORP announced a quarterly dividend of $0.86 per share, resulting in an annualized dividend yield of 2.7%, with the payout ratio at 60.56%.
• The company's recent earnings report revealed an EPS of $1.76, matching analyst estimates, and revenue of $531.10 million, surpassing projections of $478.14 million.

Northern Trust Corp increased its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,791 shares of the energy company's stock after buying an additional 9,434 shares during the period. Northern Trust Corp owned about 0.86% of IDACORP worth $53,902,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV boosted its position in shares of IDACORP by 21.2% in the 1st quarter. KBC Group NV now owns 2,350 shares of the energy company's stock worth $273,000 after buying an additional 411 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after buying an additional 127 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of IDACORP by 103.0% in the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock worth $986,000 after buying an additional 4,305 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of IDACORP by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock worth $765,000 after buying an additional 456 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of IDACORP by 318.9% in the 1st quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company's stock worth $163,000 after buying an additional 1,065 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

IDACORP Trading Down 0.0%

NYSE:IDA traded down $0.06 during mid-day trading on Friday, reaching $125.02. The company's stock had a trading volume of 332,298 shares, compared to its average volume of 342,683. The company's fifty day simple moving average is $121.55 and its two-hundred day simple moving average is $117.52. 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, Inc. has a twelve month low of $99.81 and a twelve month high of $128.50. The stock has a market cap of $6.75 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.62 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, hitting the consensus estimate of $1.76. The company had revenue of $531.10 million during the quarter, compared to analyst estimates 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 firm posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

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