IDACORP, Inc. $IDA Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 418.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,846 shares of the energy company’s stock after acquiring an additional 30,543 shares during the period. SG Americas Securities LLC owned 0.07% of IDACORP worth $5,001,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its position in IDACORP by 6.3% during the second quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after purchasing an additional 110,885 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after buying an additional 13,283 shares during the period. Jennison Associates LLC increased its holdings in shares of IDACORP by 115.3% during the 2nd quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock worth $152,816,000 after buying an additional 708,989 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of IDACORP by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock worth $117,905,000 after buying an additional 15,223 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of IDACORP by 33.7% in the 2nd quarter. William Blair Investment Management LLC now owns 637,110 shares of the energy company’s stock worth $73,554,000 after buying an additional 160,717 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

IDA stock opened at $128.07 on Friday. The firm has a market cap of $6.92 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09. IDACORP, Inc. has a 1 year low of $104.74 and a 1 year high of $138.03. The stock has a 50-day simple moving average of $127.77 and a 200-day simple moving average of $126.58.

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

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is 60.48%.

Analyst Ratings Changes

IDA has been the subject of a number of research reports. UBS Group lowered their price target on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research report on Tuesday, October 28th. Mizuho raised their price target on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $152.00 price objective on shares of IDACORP in a research note on Monday, December 1st. One research 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 company. According to MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and a consensus price target of $137.88.

IDACORP Company Profile

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.