Oliver Luxxe Assets LLC Raises Holdings in IDACORP, Inc. $IDA

Key Points

• Oliver Luxxe Assets LLC increased its stake in IDACORP, Inc. by 36.9%, acquiring an additional 4,669 shares, bringing its total holdings to 17,315 shares worth approximately $1,999,000.
• IDACORP recently announced a quarterly dividend of $0.86, resulting in an annualized dividend of $3.44 and a yield of 2.7%, with a payout ratio of 60.56%.
• The stock has shown a price range between a one-year low of $99.81 and a high of $128.50, with a current market capitalization of $6.80 billion.

Oliver Luxxe Assets LLC boosted its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 36.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,315 shares of the energy company's stock after buying an additional 4,669 shares during the quarter. Oliver Luxxe Assets LLC's holdings in IDACORP were worth $1,999,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IDA. Jennison Associates LLC acquired a new stake in IDACORP in the first quarter valued at about $71,437,000. Lord Abbett & CO. LLC boosted its stake 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 in the last quarter. Reaves W H & Co. Inc. boosted its stake in shares of IDACORP by 25.0% during 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 purchasing an additional 249,542 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of IDACORP by 10.5% during 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 purchasing an additional 200,465 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of IDACORP during the first quarter valued at about $20,478,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Up 0.4%

Shares of NYSE IDA traded up $0.48 during midday trading on Monday, hitting $126.18. 287,444 shares of the stock traded hands, compared to its average volume of 331,425. The company has a market cap of $6.82 billion, a PE ratio of 22.21, a P/E/G ratio of 2.63 and a beta of 0.59. IDACORP, Inc. has a one year low of $99.81 and a one year high of $128.50. The business has a 50 day moving average price of $124.50 and a two-hundred day moving average price of $118.82. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (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 company had revenue of $531.10 million for the quarter, compared to analysts' expectations of $478.14 million. During the same quarter in the previous year, the firm earned $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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 5th. IDACORP's payout ratio is presently 60.56%.

Analyst Ratings Changes

IDA has been the topic of a number of recent research reports. Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. UBS Group reaffirmed a "neutral" rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note 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 note on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, IDACORP has a consensus rating of "Moderate Buy" and an average target price of $123.57.

IDACORP Company 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.