IDACORP, Inc. $IDA Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 28.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 211,054 shares of the energy company’s stock after selling 83,762 shares during the period. Deprince Race & Zollo Inc.’s holdings in IDACORP were worth $27,891,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDA. CWM LLC grew its holdings in shares of IDACORP by 22.4% during the third quarter. CWM LLC now owns 3,409 shares of the energy company’s stock valued at $450,000 after buying an additional 625 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in IDACORP during the 3rd quarter worth about $1,442,000. Spirit of America Management Corp NY grew its stake in IDACORP by 17.6% during the 3rd quarter. Spirit of America Management Corp NY now owns 6,000 shares of the energy company’s stock valued at $793,000 after purchasing an additional 900 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of IDACORP by 160.2% in the third quarter. Farther Finance Advisors LLC now owns 458 shares of the energy company’s stock valued at $61,000 after purchasing an additional 282 shares during the period. Finally, Thomas Story & Son LLC increased its holdings in shares of IDACORP by 0.3% in the third quarter. Thomas Story & Son LLC now owns 44,363 shares of the energy company’s stock valued at $5,863,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

NYSE:IDA opened at $126.90 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. The company has a 50 day moving average price of $129.19 and a 200-day moving average price of $125.66. IDACORP, Inc. has a 1-year low of $104.74 and a 1-year high of $138.03. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.23 by $0.03. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. The company had revenue of $524.42 million for the quarter, compared to analyst estimates of $663.09 million. During the same quarter last year, the business earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities research analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, November 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.8%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley set a $139.00 target price on IDACORP and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $152.00 price objective on shares of IDACORP in a report on Monday, December 1st. Mizuho raised their target price on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Wells Fargo & Company upgraded shares of IDACORP to a “hold” rating in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.88.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.