Teacher Retirement System of Texas Boosts Stake in IDACORP, Inc. $IDA

Teacher Retirement System of Texas grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 21.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,318 shares of the energy company’s stock after purchasing an additional 1,834 shares during the quarter. Teacher Retirement System of Texas’ holdings in IDACORP were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. lifted its holdings in shares of IDACORP by 2.1% during the 1st 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of IDACORP by 13.4% during the 2nd quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock valued at $97,000 after purchasing an additional 99 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of IDACORP by 0.7% during 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 purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of IDACORP by 0.8% during 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 purchasing an additional 100 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of IDACORP by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company’s stock valued at $289,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

NYSE IDA opened at $128.60 on Thursday. The stock has a 50-day simple moving average of $130.08 and a two-hundred day simple moving average of $122.61. The firm has a market capitalization of $6.95 billion, a P/E ratio of 22.64, a PEG ratio of 2.86 and a beta of 0.59. IDACORP, Inc. has a fifty-two week low of $104.74 and a fifty-two week high of $138.03. 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 (NYSE:IDA) last released its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The business had revenue of $663.69 million during the quarter, compared to analyst estimates of $663.09 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter last year, the business posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Jefferies Financial Group increased their price objective on IDACORP from $144.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Mizuho increased their price objective on IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Wells Fargo & Company upgraded IDACORP to a “hold” rating in a research note on Tuesday, October 28th. Finally, Morgan Stanley restated an “outperform” rating and issued a $141.00 target price on shares of IDACORP in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.38.

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.