LVM Capital Management Ltd. MI Grows Stock Holdings in 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 raised its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,257 shares of the energy company's stock after purchasing an additional 2,275 shares during the period. IDACORP makes up approximately 1.5% of LVM Capital Management Ltd. MI's holdings, making the stock its 20th largest holding. LVM Capital Management Ltd. MI owned approximately 0.23% of IDACORP worth $14,461,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Voya Investment Management LLC raised its position in IDACORP by 4.6% during the first quarter. Voya Investment Management LLC now owns 8,098 shares of the energy company's stock valued at $941,000 after purchasing an additional 353 shares in the last quarter. Strs Ohio purchased a new position in shares of IDACORP in the first quarter worth about $8,146,000. Acadian Asset Management LLC increased its holdings in shares of IDACORP by 9.6% in the first quarter. Acadian Asset Management LLC now owns 38,704 shares of the energy company's stock worth $4,496,000 after buying an additional 3,395 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of IDACORP by 104.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,073 shares of the energy company's stock worth $125,000 after buying an additional 549 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of IDACORP by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company's stock worth $16,698,000 after buying an additional 10,855 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.2%

NYSE IDA opened at $125.50 on Friday. 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 stock has a market capitalization of $6.78 billion, a PE ratio of 22.09, a PEG ratio of 2.63 and a beta of 0.59. IDACORP, Inc. has a 1 year low of $99.81 and a 1 year high of $128.50. The business's 50-day moving average is $123.51 and its 200 day moving average is $118.35.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.76. The company 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 period last year, the firm earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Sell-side analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were paid a $0.86 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $3.44 annualized dividend and a dividend yield of 2.7%. IDACORP's dividend payout ratio (DPR) is presently 60.56%.

Analysts Set New Price Targets

Several research firms have recently commented on IDA. Morgan Stanley set a $133.00 price objective on IDACORP and gave the stock an "outperform" rating in a report on Thursday, August 21st. UBS Group reiterated a "neutral" rating and issued a $120.00 price objective (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Finally, Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $123.57.

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.

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