IDACORP, Inc. $IDA Holdings Lifted by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC has increased its stake in IDACORP, Inc. by 51.5%, bringing its total holdings to 6,118 shares valued at approximately $711,000, as reported in its recent SEC filing.
• Several other hedge funds have also made significant changes to their positions in IDACORP, with notable purchases including a $71.4 million investment by Jennison Associates LLC in the first quarter.
• IDACORP has recently set its FY 2025 earnings per share guidance at 5.700-5.850, with a current consensus rating of "Moderate Buy" and a price target of $123.57 from analysts.

Kestra Investment Management LLC raised its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 51.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 6,118 shares of the energy company's stock after acquiring an additional 2,080 shares during the period. Kestra Investment Management LLC's holdings in IDACORP were worth $711,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of IDA. KBC Group NV grew its stake in shares of IDACORP by 21.2% during the 1st quarter. KBC Group NV now owns 2,350 shares of the energy company's stock valued at $273,000 after buying an additional 411 shares during the period. GAMMA Investing LLC boosted its position in IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock valued at $86,000 after buying an additional 127 shares during the last quarter. Teacher Retirement System of Texas boosted its position in IDACORP by 103.0% in the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock valued at $986,000 after buying an additional 4,305 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake 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 valued at $765,000 after purchasing an additional 456 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake 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 valued at $163,000 after purchasing an additional 1,065 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

IDACORP Stock Performance

IDA traded down $0.24 on Friday, hitting $125.50. 413,487 shares of the company's stock were exchanged, compared to its average volume of 305,598. The firm has a market cap of $6.78 billion, a PE ratio of 22.09, a P/E/G ratio of 2.63 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $99.81 and a twelve month high of $128.50. The stock has a fifty day moving average of $123.51 and a two-hundred day moving average of $118.37. 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, hitting the consensus estimate of $1.76. The firm had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter in the prior year, the business earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm 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. The ex-dividend date was Tuesday, August 5th. This represents a $3.44 annualized dividend and a yield of 2.7%. IDACORP's dividend payout ratio is 60.56%.

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.