Strs Ohio Cuts Stock Position in IDACORP, Inc. $IDA

Strs Ohio trimmed its position in shares of IDACORP, Inc. (NYSE:IDA) by 4.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,882 shares of the energy company’s stock after selling 5,900 shares during the quarter. Strs Ohio’s holdings in IDACORP were worth $18,221,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IDA. Parkside Financial Bank & Trust increased its stake in IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock worth $44,000 after buying an additional 96 shares during the period. GAMMA Investing LLC grew its position in shares of IDACORP by 13.4% during the second quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after buying an additional 99 shares in the last quarter. Securian Asset Management Inc. grew its position in shares of IDACORP by 2.5% during the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock worth $476,000 after buying an additional 100 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of IDACORP by 2.2% during the third quarter. D.A. Davidson & CO. now owns 5,106 shares of the energy company’s stock worth $675,000 after buying an additional 111 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of IDACORP by 62.0% during the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after buying an additional 119 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Down 1.3%

Shares of NYSE:IDA opened at $132.02 on Friday. IDACORP, Inc. has a 1-year low of $107.64 and a 1-year high of $138.03. The stock has a market cap of $7.13 billion, a P/E ratio of 22.68, a P/E/G ratio of 2.57 and a beta of 0.61. The firm has a fifty day moving average price of $128.45 and a 200 day moving average price of $127.79. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $663.09 million. During the same quarter in the previous year, the firm posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is 60.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barclays initiated coverage on shares of IDACORP in a research report on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 price objective on the stock. Mizuho lifted their price target on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. UBS Group decreased their target price on IDACORP from $135.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Wells Fargo & Company downgraded IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $129.00 to $118.00 in a report on Tuesday. Finally, BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.11.

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.