TD Asset Management Inc Sells 4,176 Shares of IDACORP, Inc. $IDA

Key Points

• TD Asset Management Inc has reduced its stake in IDACORP, Inc. by 11.4%, selling 4,176 shares during the second quarter, resulting in ownership of approximately 32,396 shares worth $3.74 million.
• IDACORP's quarterly earnings report showed an EPS of $1.76, meeting analysts' expectations, with the company also guiding for FY 2025 EPS between 5.700 and 5.850.
• The company announced an increase in its quarterly dividend to $0.88 per share, up from the previous $0.86, reflecting an annual yield of 2.6%.

TD Asset Management Inc lowered its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,396 shares of the energy company's stock after selling 4,176 shares during the quarter. TD Asset Management Inc owned approximately 0.06% of IDACORP worth $3,740,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in IDA. Jennison Associates LLC bought a new position in IDACORP during the first quarter valued at about $71,437,000. Lord Abbett & CO. LLC increased its stake in shares of IDACORP by 128.1% in the first quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock worth $60,914,000 after purchasing an additional 294,342 shares in the last quarter. Reaves W H & Co. Inc. increased its stake in shares of IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock worth $145,034,000 after purchasing an additional 249,542 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of IDACORP by 10.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock worth $245,243,000 after purchasing an additional 200,465 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of IDACORP in the first quarter worth about $20,478,000. Institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IDA. UBS Group reiterated a "neutral" rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Morgan Stanley reduced their target price on shares of IDACORP from $133.00 to $131.00 and set an "equal weight" rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $123.29.

IDACORP Price Performance

IDA stock opened at $137.91 on Tuesday. The firm has a 50 day moving average of $128.53 and a 200-day moving average of $121.23. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 12 month low of $100.10 and a 12 month high of $138.03. The firm has a market capitalization of $7.45 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.90 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The energy company reported $1.76 EPS for the quarter, meeting analysts' consensus estimates of $1.76. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The company had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. During the same period last year, the business earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Wednesday, November 5th will be given 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 (DPR) is presently 60.56%.

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.

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