Ameriprise Financial Inc. Grows Stock Position in IDACORP, Inc. $IDA

Key Points

• Ameriprise Financial Inc. increased its stake in IDACORP, Inc. by 23.5% in Q1, owning 468,576 shares valued at approximately $54.5 million by the end of the quarter.
• Several other institutional investors have also made moves with IDACORP, contributing to 89.10% of the company's total stock ownership.
• IDACORP announced a quarterly dividend of $0.86 per share, equating to an annualized yield of 2.7% and set a FY 2025 EPS guidance of 5.700-5.850.

Ameriprise Financial Inc. lifted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 23.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,576 shares of the energy company's stock after purchasing an additional 89,264 shares during the quarter. Ameriprise Financial Inc. owned about 0.87% of IDACORP worth $54,458,000 as of its most recent SEC filing.

Other institutional investors have also recently 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 purchasing 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 purchasing 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 purchasing 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 purchasing an additional 456 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in 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 acquiring an additional 1,065 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

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

IDACORP Stock Performance

Shares of NYSE IDA traded down $0.62 during trading on Tuesday, reaching $124.48. 366,351 shares of the company traded hands, compared to its average volume of 318,554. The firm's fifty day simple moving average is $121.93 and its 200 day simple moving average is $117.71. The stock has a market cap of $6.73 billion, a P/E ratio of 21.92, a PEG ratio of 2.62 and a beta of 0.59. IDACORP, Inc. has a 12-month low of $99.81 and a 12-month high of $128.50. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01.

IDACORP (NYSE:IDA - Get Free Report) last released 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. The business 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 quarter last year, the business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.8%. IDACORP's dividend payout ratio (DPR) 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.