United Services Automobile Association Buys Shares of 3,351 IDACORP, Inc. $IDA

Key Points

• United Services Automobile Association purchased 3,351 shares of IDACORP, Inc., valued at approximately $385,000, according to a recent SEC filing.
• IDACORP reported quarterly earnings of $1.76 per share, meeting analysts' estimates, with a revenue of $531.10 million exceeding expectations of $478.14 million.
• The company declared a quarterly dividend of $0.86 per share, resulting in an annualized dividend of $3.44 and a yield of 2.7% for stockholders.

United Services Automobile Association acquired a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,351 shares of the energy company's stock, valued at approximately $385,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDA. Principal Securities Inc. grew its position in IDACORP by 2.1% in the first quarter. Principal Securities Inc. now owns 4,410 shares of the energy company's stock valued at $482,000 after purchasing an additional 92 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in IDACORP by 4.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company's stock worth $289,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System raised its position in shares of IDACORP by 0.8% in the 1st quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company's stock valued at $1,478,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of IDACORP by 0.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company's stock valued at $1,732,000 after buying an additional 100 shares in the last quarter. Finally, Wood Tarver Financial Group LLC grew its holdings in shares of IDACORP by 3.2% during the 1st quarter. Wood Tarver Financial Group LLC now owns 3,814 shares of the energy company's stock valued at $443,000 after purchasing an additional 117 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

IDACORP Stock Performance

NYSE:IDA traded up $1.34 on Wednesday, reaching $125.88. 34,075 shares of the company's stock were exchanged, compared to its average volume of 406,218. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.63 and a beta of 0.59. IDACORP, Inc. has a 52 week low of $99.81 and a 52 week high of $128.50. The stock has a fifty day simple moving average of $123.87 and a 200-day simple moving average of $118.49.

IDACORP (NYSE:IDA - Get Free Report) last issued 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. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The firm had revenue of $531.10 million during the quarter, compared to analyst estimates of $478.14 million. During the same quarter 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 year.

IDACORP Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 5th. IDACORP's dividend payout ratio (DPR) is 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.