Vanguard Personalized Indexing Management LLC Acquires 1,253 Shares of IDACORP, Inc. $IDA

Vanguard Personalized Indexing Management LLC grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the energy company’s stock after purchasing an additional 1,253 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in IDACORP were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP increased its position in IDACORP by 3.2% during the first quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company’s stock worth $410,970,000 after buying an additional 111,182 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of IDACORP by 10.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company’s stock worth $245,243,000 after buying an additional 200,465 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of IDACORP by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company’s stock worth $161,728,000 after acquiring an additional 12,156 shares in the last quarter. Reaves W H & Co. Inc. increased its holdings in shares of IDACORP by 25.0% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock valued at $145,034,000 after acquiring an additional 249,542 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of IDACORP during the 1st quarter valued at about $71,437,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDACORP stock opened at $135.97 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The company has a market cap of $7.35 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.90 and a beta of 0.56. The firm has a fifty day moving average price of $128.27 and a two-hundred day moving average price of $121.06. IDACORP, Inc. has a fifty-two week low of $100.10 and a fifty-two week high of $137.17.

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

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, November 5th. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s payout ratio is 60.56%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley decreased their target price on IDACORP from $133.00 to $131.00 and set an “equal weight” rating for the company in a research report on Thursday, September 25th. UBS Group restated a “neutral” rating and issued a $120.00 price objective (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.29.

IDACORP Company 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.