Strs Ohio Invests $8.15 Million in IDACORP, Inc. $IDA

Key Points

• Strs Ohio has invested approximately $8.15 million in IDACORP, acquiring 70,093 shares and representing about 0.13% of the company's total shares.
• IDACORP reported $1.76 earnings per share for its last quarter, exceeding analysts' expectations and affirming its strong revenue growth.
• The company announced a quarterly dividend of $0.86 per share, providing an annual yield of 2.7% to shareholders.

Strs Ohio bought a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 70,093 shares of the energy company's stock, valued at approximately $8,146,000. Strs Ohio owned 0.13% of IDACORP at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of IDA. Elite Financial Inc. purchased a new position in IDACORP in the first quarter valued at about $29,000. Caitong International Asset Management Co. Ltd boosted its holdings in 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 during the last quarter. Opal Wealth Advisors LLC purchased a new position in IDACORP in the first quarter valued at about $34,000. Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 378 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analysts Set New Price Targets

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

IDACORP Price Performance

NYSE IDA traded down $1.07 on Tuesday, reaching $124.54. 428,798 shares of the stock traded hands, compared to its average volume of 307,169. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 2.63 and a beta of 0.59. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The firm's fifty day simple moving average is $123.87 and its 200 day simple moving average is $118.49. 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 released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting the consensus estimate of $1.76. The business had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period last year, the company posted $1.71 EPS. 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 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th were given a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is 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.