Oliver Luxxe Assets LLC Takes Position in IDACORP, Inc. $IDA

Key Points

• Oliver Luxxe Assets LLC has acquired a new position in IDACORP, Inc., purchasing 12,646 shares valued at approximately $1,470,000 during the first quarter.
• IDACORP recently reported earnings of $1.76 EPS for the quarter, aligning with analysts' expectations, and also set its FY 2025 guidance at 5.700-5.850 EPS.
• The company declared a quarterly dividend of $0.86, representing an annualized dividend yield of 2.7%, with the payment date set for September 2nd.

Oliver Luxxe Assets LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,646 shares of the energy company's stock, valued at approximately $1,470,000.

Several other large investors have also modified their holdings of IDA. AlphaQuest LLC acquired a new position in shares of IDACORP during the 1st quarter worth approximately $260,000. Ameriprise Financial Inc. increased its position in IDACORP by 23.5% during the first quarter. Ameriprise Financial Inc. now owns 468,576 shares of the energy company's stock worth $54,458,000 after buying an additional 89,264 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 10.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock worth $245,243,000 after acquiring an additional 200,465 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of IDACORP in the first quarter worth $1,948,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. purchased a new stake in shares of IDACORP in the first quarter valued at $295,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on IDA. Guggenheim lifted their price objective on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. 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 target price on shares of IDACORP and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $123.57.

IDACORP Trading Down 1.2%

NYSE:IDA traded down $1.53 on Thursday, hitting $125.12. 254,849 shares of the stock were exchanged, compared to its average volume of 414,135. The stock has a fifty day moving average of $121.09 and a 200-day moving average of $117.28. The stock has a market cap of $6.76 billion, a PE ratio of 22.03, a PEG ratio of 2.65 and a beta of 0.56. 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, Inc. has a fifty-two week low of $99.81 and a fifty-two week high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.76. The business had revenue of $531.10 million during 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 earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis 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 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.