Ceredex Value Advisors LLC Boosts Position in IDACORP, Inc. $IDA

Key Points

• Ceredex Value Advisors LLC raised its stake in IDACORP by 3.3% in Q1, now holding 176,187 shares valued at $20.5 million.
• IDACORP's earnings for the last quarter matched estimates at $1.76 per share, with revenues surpassing projections at $531.10 million.
• The company recently announced a quarterly dividend of $0.86 per share, with a yield of 2.7% and a payout ratio of 60.56%.

Ceredex Value Advisors LLC grew its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,187 shares of the energy company's stock after acquiring an additional 5,650 shares during the quarter. Ceredex Value Advisors LLC owned about 0.33% of IDACORP worth $20,476,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IDA. Jennison Associates LLC purchased a new stake in IDACORP in the first quarter valued at approximately $71,437,000. Ameriprise Financial Inc. boosted its position in IDACORP by 596.7% in the fourth quarter. Ameriprise Financial Inc. now owns 379,312 shares of the energy company's stock valued at $41,451,000 after buying an additional 324,866 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in IDACORP by 128.1% in the first quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock valued at $60,914,000 after buying an additional 294,342 shares during the last quarter. Reaves W H & Co. Inc. boosted its position in IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock valued at $145,034,000 after buying an additional 249,542 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its position in IDACORP by 10.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock valued at $245,243,000 after buying an additional 200,465 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

Shares of IDA stock traded down $0.06 during trading hours on Friday, hitting $125.02. 332,298 shares of the company's stock were exchanged, compared to its average volume of 342,683. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The firm 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. The firm has a 50 day moving average of $121.55 and a two-hundred day moving average of $117.52. IDACORP, Inc. has a fifty-two week low of $99.81 and a fifty-two week 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. 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 in the prior year, the company earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio is currently 60.56%.

Analyst Upgrades and Downgrades

IDA has been the topic of several recent research reports. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group restated a "neutral" rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Finally, 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, IDACORP presently has a consensus 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.