IDACORP, Inc. $IDA Shares Purchased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in IDACORP, Inc. by 10.5%, owning approximately 3.91% of the company worth $245.2 million.
• IDACORP reported $1.76 earnings per share for the last quarter, matching analysts' expectations, and it generated $531.1 million in revenue, surpassing anticipations.
• The company also declared a quarterly dividend of $0.86 per share, with a dividend yield of 2.7%, to be paid on September 2nd.

T. Rowe Price Investment Management Inc. increased its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,110,160 shares of the energy company's stock after purchasing an additional 200,465 shares during the period. T. Rowe Price Investment Management Inc. owned 3.91% of IDACORP worth $245,243,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Capital Fund Management S.A. purchased a new position in IDACORP during the 1st quarter worth $1,948,000. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in IDACORP during the 1st quarter worth $295,000. Quantbot Technologies LP purchased a new position in IDACORP during the 1st quarter worth $489,000. Wellington Management Group LLP raised its position in IDACORP by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company's stock worth $410,970,000 after buying an additional 111,182 shares during the last quarter. Finally, Northern Trust Corp raised its position in IDACORP by 2.1% during the 1st quarter. Northern Trust Corp now owns 463,791 shares of the energy company's stock worth $53,902,000 after buying an additional 9,434 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.1%

Shares of NYSE IDA traded down $0.12 during trading on Tuesday, reaching $126.84. 64,259 shares of the stock were exchanged, compared to its average volume of 413,592. The business's 50-day moving average price is $120.55 and its 200 day moving average price is $117.15. IDACORP, Inc. has a twelve month low of $99.81 and a twelve month high of $128.50. 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 company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 2.68 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last posted its earnings results on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, hitting analysts' consensus estimates of $1.76. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The business had revenue of $531.10 million for the quarter, compared to analysts' expectations of $478.14 million. During the same period in the previous 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, equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be 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 of this dividend is Tuesday, August 5th. IDACORP's dividend payout ratio is 60.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IDA shares. UBS Group reiterated a "neutral" rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a report on Friday, July 11th. Guggenheim increased their price target on shares of IDACORP from $121.00 to $126.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Morgan Stanley set a $133.00 price target on shares of IDACORP and gave the company an "outperform" rating in a report on Thursday. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Wells Fargo & Company increased their price target on shares of IDACORP from $121.00 to $125.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, IDACORP presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.57.

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.