US Bancorp DE Has $2.73 Million Stock Holdings in IDACORP, Inc. $IDA

Key Points

• US Bancorp DE has reduced its stake in IDACORP, Inc. by 9.0% during Q2, now owning 23,615 shares valued at approximately $2.73 million.
• IDACORP reported Q2 earnings matching expectations at $1.76 EPS with revenues of $531.10 million, exceeding consensus estimates.
• The company recently announced a quarterly dividend of $0.86 per share, translating to an annualized yield of 2.5% and a payout ratio of 60.56%.

US Bancorp DE cut its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 9.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,615 shares of the energy company's stock after selling 2,339 shares during the period. US Bancorp DE's holdings in IDACORP were worth $2,726,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC acquired a new position in IDACORP during the 1st quarter worth $71,437,000. Lord Abbett & CO. LLC lifted its stake in shares of IDACORP by 128.1% during the first quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company's stock valued at $60,914,000 after acquiring an additional 294,342 shares during the period. Reaves W H & Co. Inc. lifted its stake in shares of IDACORP by 25.0% during the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company's stock valued at $145,034,000 after acquiring an additional 249,542 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of IDACORP by 10.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company's stock valued at $245,243,000 after acquiring an additional 200,465 shares during the period. Finally, Nuveen LLC acquired a new position in shares of IDACORP during the first quarter valued at $20,478,000. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

IDA opened at $135.22 on Wednesday. The business's 50-day moving average price is $127.61 and its two-hundred day moving average price is $120.68. IDACORP, Inc. has a 1 year low of $100.10 and a 1 year high of $136.07. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.86 and a beta of 0.56. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.76. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The business had revenue of $531.10 million for the quarter, compared to the consensus estimate of $478.14 million. During the same quarter in the previous year, the business earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Equities analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP's dividend payout ratio is currently 60.56%.

Analyst Ratings Changes

IDA has been the topic of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a report on Wednesday, October 8th. Wall Street Zen raised IDACORP from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. UBS Group reissued a "neutral" rating and issued a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Finally, Morgan Stanley cut their target price on IDACORP from $133.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Thursday, September 25th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.29.

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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