Sequoia Financial Advisors LLC Takes Position in IDACORP, Inc. $IDA

Key Points

• Sequoia Financial Advisors LLC acquired 1,956 shares of IDACORP, valued at approximately $226,000, during the second quarter, highlighting increased institutional interest in the company.
• IDACORP recently announced a quarterly dividend increase to $0.88 per share, up from $0.86, representing a yield of 2.6% with an annual payout of $3.52.
• Research analysts are optimistic about IDACORP, with ratings ranging from "buy" to "strong buy" and price targets set as high as $155.00 by Jefferies Financial Group.

Sequoia Financial Advisors LLC acquired a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,956 shares of the energy company's stock, valued at approximately $226,000.

Other institutional investors have also added to or reduced their stakes in the company. Elite Financial Inc. bought a new position in IDACORP during the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IDACORP by 621.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock valued at $31,000 after purchasing an additional 230 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of IDACORP during the second quarter worth about $31,000. Riverview Trust Co bought a new position in shares of IDACORP during the second quarter worth about $42,000. Finally, Byrne Asset Management LLC acquired a new stake in IDACORP in the 2nd quarter valued at approximately $49,000. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Performance

IDA opened at $134.18 on Friday. IDACORP, Inc. has a 52-week low of $100.10 and a 52-week high of $138.03. The firm has a market capitalization of $7.25 billion, a PE ratio of 23.62, a PEG ratio of 2.91 and a beta of 0.56. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The business's 50-day simple moving average is $129.08 and its 200 day simple moving average is $121.57.

IDACORP (NYSE:IDA - Get Free Report) last released 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. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The business had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. During the same quarter in the prior year, the company posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, sell-side analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, November 5th. This is a boost from IDACORP's previous quarterly dividend of $0.86. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP's dividend payout ratio is currently 60.56%.

Wall Street Analyst Weigh In

IDA has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an "outperform" rating and set a $141.00 price target on shares of IDACORP in a research report on Wednesday. UBS Group restated a "neutral" rating and set a $120.00 target price (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of IDACORP in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on shares of IDACORP from $144.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, BTIG Research raised shares of IDACORP to a "strong-buy" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.38.

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.

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