Trexquant Investment LP Acquires 3,417 Shares of IDACORP, Inc. $IDA

Key Points

• Trexquant Investment LP increased its stake in IDACORP, Inc. by 20.4%, acquiring an additional 3,417 shares, bringing its total holdings to 20,184 shares valued at approximately $2.35 million.
• IDACORP reported quarterly earnings of $1.76 EPS, meeting analysts' expectations, with revenues of $531.10 million, exceeding forecasts of $478.14 million.
• The company declared a quarterly dividend of $0.86 per share, resulting in an annualized dividend yield of 2.8% and a dividend payout ratio of 60.56%.

Trexquant Investment LP lifted its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 20.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,184 shares of the energy company's stock after buying an additional 3,417 shares during the period. Trexquant Investment LP's holdings in IDACORP were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of IDACORP by 3.2% in 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. T. Rowe Price Investment Management Inc. boosted its stake in shares of IDACORP by 10.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock worth $245,243,000 after buying an additional 200,465 shares during the last quarter. Reaves W H & Co. Inc. boosted its stake in shares of IDACORP by 25.0% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock worth $145,034,000 after buying an additional 249,542 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of IDACORP in the 1st quarter worth $71,437,000. Finally, Lord Abbett & CO. LLC boosted its stake in shares of IDACORP by 128.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock worth $60,914,000 after buying an additional 294,342 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Price Performance

NYSE IDA opened at $124.63 on Thursday. The company has a market capitalization of $6.73 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.62 and a beta of 0.59. 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 fifty day moving average is $122.15 and its 200 day moving average is $117.76. IDACORP, Inc. has a fifty-two week low of $99.81 and a fifty-two week high of $128.50.

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

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 yield of 2.8%. IDACORP's dividend payout ratio (DPR) is currently 60.56%.

Analysts Set New Price Targets

IDA has been the topic of a number of research reports. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley set a $133.00 target price on IDACORP and gave the company an "outperform" rating in a research report on Thursday, August 21st. Finally, UBS Group reiterated a "neutral" rating and set a $120.00 target price (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.57.

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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