LVM Capital Management Ltd. MI Acquires 2,275 Shares of IDACORP, Inc. $IDA

Key Points

• LVM Capital Management Ltd. MI increased its stake in IDACORP, Inc. by 1.8%, now owning 125,257 shares valued at approximately $14.46 million, making IDACORP its 20th largest holding.
• IDACORP reported $1.76 earnings per share (EPS) for the last quarter, meeting expectations, with a revenue of $531.10 million exceeding analysts' forecasts of $478.14 million.
• The company recently announced a quarterly dividend of $0.86, representing a 2.7% yield and a payout ratio of 60.56%.

LVM Capital Management Ltd. MI grew its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,257 shares of the energy company's stock after acquiring an additional 2,275 shares during the quarter. IDACORP accounts for 1.5% of LVM Capital Management Ltd. MI's holdings, making the stock its 20th biggest position. LVM Capital Management Ltd. MI owned approximately 0.23% of IDACORP worth $14,461,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Securities Inc. boosted its holdings in shares of IDACORP by 2.1% during the first quarter. Principal Securities Inc. now owns 4,410 shares of the energy company's stock worth $482,000 after acquiring an additional 92 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in IDACORP by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock worth $289,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System boosted its stake in IDACORP by 0.8% in the 1st quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company's stock valued at $1,478,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System grew its holdings in IDACORP by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company's stock valued at $1,732,000 after buying an additional 100 shares in the last quarter. Finally, Wood Tarver Financial Group LLC increased its position in IDACORP by 3.2% during the 1st quarter. Wood Tarver Financial Group LLC now owns 3,814 shares of the energy company's stock worth $443,000 after buying an additional 117 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IDA shares. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. UBS Group restated a "neutral" rating and set a $120.00 target price (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 target on shares of IDACORP and gave the company an "outperform" rating in a research report on Thursday, August 21st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, IDACORP presently has a consensus rating of "Moderate Buy" and a consensus target price of $123.57.

IDACORP Price Performance

Shares of IDACORP stock traded up $0.72 during trading on Thursday, reaching $126.00. 90,682 shares of the company's stock were exchanged, compared to its average volume of 406,131. 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, Inc. has a 1-year low of $99.81 and a 1-year high of $128.50. The company has a market cap of $6.81 billion, a P/E ratio of 22.19, a PEG ratio of 2.60 and a beta of 0.59. The firm's 50-day moving average price is $124.02 and its 200 day moving average price is $118.53.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.76. The firm had revenue of $531.10 million for the quarter, compared to analysts' expectations of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter in the previous year, the business posted $1.71 earnings per share. 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 year.

IDACORP Announces Dividend

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