11,719 Shares in IDACORP, Inc. $IDA Purchased by SeaCrest Wealth Management LLC

Key Points

• SeaCrest Wealth Management LLC acquired 11,719 shares of IDACORP, Inc. for approximately $1.35 million during the 2nd quarter, highlighting increased institutional interest in the company.
• IDACORP has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging $123.57, indicating positive market sentiment.
• The company declared a quarterly dividend of $0.86 per share, resulting in an annualized dividend yield of 2.7%.

SeaCrest Wealth Management LLC purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,719 shares of the energy company's stock, valued at approximately $1,353,000.

A number of other hedge funds have also bought and sold shares of the business. KBC Group NV grew its position in shares of IDACORP by 21.2% in the first quarter. KBC Group NV now owns 2,350 shares of the energy company's stock valued at $273,000 after purchasing an additional 411 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after buying an additional 127 shares during the last quarter. Teacher Retirement System of Texas lifted its position in IDACORP by 103.0% in the 1st quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company's stock valued at $986,000 after acquiring an additional 4,305 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in IDACORP by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company's stock worth $765,000 after buying an additional 456 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of IDACORP by 318.9% during the first quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company's stock valued at $163,000 after purchasing an additional 1,065 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Stock Performance

IDA traded up $1.32 during trading on Tuesday, reaching $127.54. The company's stock had a trading volume of 143,787 shares, compared to its average volume of 407,644. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.59. 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 company's fifty day moving average price is $124.50 and its 200-day moving average price is $118.82.

IDACORP (NYSE:IDA - Get Free Report) last issued 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 firm had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. During the same period in the previous year, the firm 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 fiscal year.

IDACORP Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 5th. IDACORP's dividend payout ratio is presently 60.56%.

Analyst Upgrades and Downgrades

IDA has been the subject of several research analyst reports. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley set a $133.00 price objective on IDACORP and gave the stock an "outperform" rating in a research note on Thursday, August 21st. Finally, UBS Group restated a "neutral" rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.57.

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.