176,199 Shares in IDACORP, Inc. $IDA Purchased by Nuveen LLC

Key Points

• Nuveen LLC invested approximately $20.48 million in IDACORP, acquiring 176,199 shares, which represents about 0.33% of the company's stock.
• IDACORP reported earnings of $1.76 per share, matching analyst expectations, and had revenue of $531.10 million for the quarter, exceeding consensus estimates.
• The company announced a quarterly dividend of $0.86 per share, with a dividend yield of 2.7% and a payout ratio of 60.56%.

Nuveen LLC acquired a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 176,199 shares of the energy company's stock, valued at approximately $20,478,000. Nuveen LLC owned 0.33% of IDACORP at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elite Financial Inc. acquired a new stake in IDACORP in the first quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new position in shares of IDACORP in the first quarter valued at $34,000. Farther Finance Advisors LLC increased its holdings in shares of IDACORP by 879.1% in the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after buying an additional 378 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after buying an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of IDACORP by 20.8% in the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock valued at $86,000 after buying an additional 127 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IDA has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Guggenheim boosted their target price on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group reissued a "neutral" rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Morgan Stanley set a $128.00 target price on shares of IDACORP and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, IDACORP currently has a consensus rating of "Moderate Buy" and an average target price of $122.86.

IDACORP Stock Down 0.8%

Shares of NYSE:IDA traded down $1.0850 during midday trading on Monday, hitting $126.9650. 9,955 shares of the stock were exchanged, compared to its average volume of 414,521. 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 52-week low of $99.81 and a 52-week high of $128.50. The business's fifty day simple moving average is $120.26 and its two-hundred day simple moving average is $117.03. The company has a market capitalization of $6.86 billion, a PE ratio of 22.35, a P/E/G ratio of 2.68 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The business had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. During the same period last year, the company earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, research analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is currently 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.