IDACORP, Inc. $IDA Shares Purchased by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd significantly increased its stake in IDACORP, Inc. by 236.3%, holding 10,460 shares valued at approximately $1.2 million.
• IDACORP recently announced a quarterly dividend of $0.86 per share, providing an annualized yield of 2.7%, with a payout ratio of 60.56%.
• Analysts have a consensus price target of $123.57 for IDACORP, with five recommending a Buy and two a Hold rating.

Dynamic Technology Lab Private Ltd boosted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 236.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,460 shares of the energy company's stock after purchasing an additional 7,350 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in IDACORP were worth $1,216,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in IDA. Elite Financial Inc. bought a new stake in IDACORP in the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its stake in IDACORP by 621.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock valued at $31,000 after buying an additional 230 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in IDACORP in the first quarter valued at $34,000. Farther Finance Advisors LLC lifted its stake in IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after buying an additional 378 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after buying an additional 125 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IDA has been the topic of a number of recent research reports. Wall Street Zen upgraded 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 IDACORP and gave the company an "outperform" rating in a research note on Thursday, August 21st. Finally, UBS Group restated a "neutral" rating and set a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $123.57.

IDACORP Stock Performance

Shares of NYSE IDA traded down $0.24 during midday trading on Friday, reaching $125.50. 413,487 shares of the company traded hands, compared to its average volume of 305,598. IDACORP, Inc. has a 52 week low of $99.81 and a 52 week high of $128.50. The stock has a 50-day moving average price of $123.51 and a 200 day moving average price of $118.37. 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 cap of $6.78 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.63 and a beta of 0.59.

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

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP's 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.