Wellington Management Group LLP Grows Stock Holdings in IDACORP, Inc. $IDA

Key Points

• Wellington Management Group LLP increased its holdings in IDACORP, Inc. by 3.2% during Q1, owning approximately 6.55% of the company with a valuation of $410.97 million.
• The company's recent earnings report showed an EPS of $1.76, matching consensus estimates, alongside revenues of $531.10 million which exceeded forecasts by nearly $53 million.
• IDACORP announced a quarterly dividend of $0.86 per share, reflecting an annualized dividend of $3.44 and a yield of 2.8% with a payout ratio of 60.56%.

Wellington Management Group LLP increased its holdings in IDACORP, Inc. (NYSE:IDA - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,536,138 shares of the energy company's stock after buying an additional 111,182 shares during the quarter. Wellington Management Group LLP owned about 6.55% of IDACORP worth $410,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IDA. Elite Financial Inc. acquired a new stake in shares of IDACORP in the first quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of IDACORP by 621.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company's stock valued at $31,000 after buying an additional 230 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of IDACORP in the 1st quarter valued at about $34,000. Farther Finance Advisors LLC lifted its holdings in shares of IDACORP by 879.1% in the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after buying an additional 378 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of IDACORP by 39.7% in the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock worth $51,000 after buying an additional 125 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IDA has been the subject of several recent research reports. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Wells Fargo & Company increased their price target on shares of IDACORP from $121.00 to $125.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Guggenheim upped their price objective on shares of IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley set a $128.00 target price on IDACORP and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. Finally, UBS Group restated 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. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.86.

IDACORP Price Performance

Shares of IDA stock traded up $1.6170 on Friday, reaching $128.0170. 291,601 shares of the company were exchanged, compared to its average volume of 398,434. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. IDACORP, Inc. has a 1 year low of $99.81 and a 1 year high of $128.40. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.64 and a beta of 0.56. The business has a 50-day moving average price of $120.26 and a 200 day moving average price of $116.95.

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

IDACORP Dividend Announcement

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 paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's payout ratio is 60.56%.

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.