IDACORP, Inc. $IDA Shares Sold by Panagora Asset Management Inc.

Panagora Asset Management Inc. cut its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 84.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,768 shares of the energy company’s stock after selling 15,146 shares during the quarter. Panagora Asset Management Inc.’s holdings in IDACORP were worth $320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of IDACORP by 33.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after acquiring an additional 96 shares during the last quarter. GAMMA Investing LLC lifted its position in IDACORP by 13.4% during the second 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 period. Securian Asset Management Inc. boosted its holdings in IDACORP by 2.5% in the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock valued at $476,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. boosted its holdings in IDACORP by 3.8% in the second quarter. UMB Bank n.a. now owns 2,779 shares of the energy company’s stock valued at $321,000 after purchasing an additional 102 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in IDACORP by 3.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 3,896 shares of the energy company’s stock worth $450,000 after purchasing an additional 112 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Performance

Shares of IDA stock opened at $126.78 on Monday. The company has a market capitalization of $6.85 billion, a P/E ratio of 21.78, a P/E/G ratio of 2.71 and a beta of 0.61. The business’s 50 day moving average is $131.40 and its two-hundred day moving average is $124.65. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a 12-month low of $104.74 and a 12-month high of $138.03.

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

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were given a dividend of $0.88 per share. This is a boost from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IDA shares. BTIG Research raised IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $137.00 price target on IDACORP in a research report on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th. Finally, Mizuho lifted their target price on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $136.50.

About IDACORP

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.