Russell Investments Group Ltd. Sells 23,982 Shares of IDACORP, Inc. $IDA

Key Points

• Russell Investments Group Ltd. reduced its stake in IDACORP, Inc. by 24.4%, selling 23,982 shares, and now holds 74,278 shares valued at approximately $8.63 million.
• Several hedge funds increased their position in IDACORP, with Farther Finance Advisors LLC growing its holdings by 879.1%, acquiring additional shares during the first quarter.
• IDACORP plans to pay a quarterly dividend of $0.86 per share on September 2nd, which represents a 2.7% annual dividend yield.

Russell Investments Group Ltd. decreased its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,278 shares of the energy company's stock after selling 23,982 shares during the period. Russell Investments Group Ltd. owned 0.14% of IDACORP worth $8,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its position in IDACORP by 9.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,909,695 shares of the energy company's stock worth $208,692,000 after buying an additional 166,864 shares in the last quarter. Reaves W H & Co. Inc. lifted its position in IDACORP by 25.0% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock worth $145,034,000 after buying an additional 249,542 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in IDACORP by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 713,023 shares of the energy company's stock worth $77,920,000 after buying an additional 8,819 shares in the last quarter. Jennison Associates LLC acquired a new position in IDACORP during the 1st quarter worth about $71,437,000. Finally, Northern Trust Corp raised its holdings in IDACORP by 16.5% during the 4th quarter. Northern Trust Corp now owns 454,357 shares of the energy company's stock worth $49,652,000 after purchasing an additional 64,447 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Trading Down 0.9%

Shares of IDA stock traded down $1.1360 on Monday, reaching $126.9140. The company had a trading volume of 217,665 shares, compared to its average volume of 385,130. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. The stock has a market cap of $6.86 billion, a PE ratio of 22.34, a PEG ratio of 2.68 and a beta of 0.56. The company has a 50-day moving average of $120.55 and a 200-day moving average of $117.15. IDACORP, Inc. has a 12 month low of $99.81 and a 12 month high of $128.50.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting analysts' consensus estimates of $1.76. The company 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 period in the prior year, the business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP's dividend payout ratio is 60.56%.

Wall Street Analyst Weigh In

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

About IDACORP

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.