Strs Ohio Acquires Shares of 70,093 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 stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 70,093 shares of the energy company's stock, valued at approximately $8,146,000. Strs Ohio owned about 0.13% of IDACORP as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDA. Elite Financial Inc. acquired a new stake in IDACORP in the 1st quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd raised its position in IDACORP by 621.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock valued at $31,000 after buying an additional 230 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in IDACORP in the 1st quarter valued at approximately $34,000. Farther Finance Advisors LLC raised its position in IDACORP by 879.1% in the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after buying an additional 378 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in IDACORP by 39.7% in the 1st quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Stock Performance

Shares of IDA stock traded up $0.20 during trading on Friday, reaching $125.81. 888,460 shares of the company's stock were exchanged, compared to its average volume of 301,582. 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 stock has a market capitalization of $6.80 billion, a PE ratio of 22.15, a PEG ratio of 2.63 and a beta of 0.59. IDACORP, Inc. has a twelve month low of $99.81 and a twelve month high of $128.50. The firm's fifty day moving average price is $124.34 and its 200-day moving average price is $118.65.

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

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP's payout ratio is presently 60.56%.

Analysts Set New Price Targets

IDA has been the topic of several recent analyst reports. Morgan Stanley set a $133.00 price target on IDACORP and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, UBS Group reaffirmed a "neutral" rating and set a $120.00 price target (up previously 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 given a Hold rating to the company. According to MarketBeat, IDACORP presently has an average rating of "Moderate Buy" and a consensus target price of $123.57.

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.