XTX Topco Ltd Acquires Shares of 1,990 IDACORP, Inc. (NYSE:IDA)

Key Points

• XTX Topco Ltd has acquired a new stake in IDACORP, purchasing 1,990 shares valued at approximately $231,000 as per their latest 13F filing.
• IDACORP announced a quarterly dividend of $0.86 per share, set to be paid on September 2nd, which reflects an annualized dividend yield of 2.7%.
• Analysts maintain a generally positive outlook for IDACORP, with an average target price of $122.86 and several recent upgrades in ratings.

XTX Topco Ltd acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,990 shares of the energy company's stock, valued at approximately $231,000.

Several other large investors also recently added to or reduced their stakes in the business. Elite Financial Inc. purchased a new stake in shares of IDACORP in the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC purchased a new stake in IDACORP in the first quarter valued at approximately $34,000. Farther Finance Advisors LLC lifted its position in IDACORP by 879.1% during the first quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company's stock valued at $49,000 after purchasing an additional 378 shares during the last quarter. Versant Capital Management Inc lifted its position in IDACORP by 39.7% during the first quarter. Versant Capital Management Inc now owns 440 shares of the energy company's stock valued at $51,000 after purchasing an additional 125 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company's stock worth $86,000 after buying an additional 127 shares in the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Trading Down 0.4%

IDA stock traded down $0.45 during trading on Friday, hitting $125.28. 304,500 shares of the company traded hands, compared to its average volume of 419,185. 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 $127.09. The company has a 50-day moving average of $118.91 and a 200-day moving average of $116.26. The firm has a market capitalization of $6.77 billion, a PE ratio of 22.06, a P/E/G ratio of 2.68 and a beta of 0.56.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.76. The business had revenue of $531.10 million for the quarter, compared to analyst estimates of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same quarter last year, the firm earned $1.71 EPS. Analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP's payout ratio is presently 60.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective 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. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Guggenheim upped their price objective on IDACORP from $121.00 to $126.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Morgan Stanley set a $128.00 price objective 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 target price (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $122.86.

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.