T. Rowe Price Investment Management Inc. Boosts Position in IDACORP, Inc. $IDA

T. Rowe Price Investment Management Inc. grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,110,160 shares of the energy company’s stock after buying an additional 200,465 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in IDACORP were worth $245,243,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IDA. KBC Group NV grew its stake in IDACORP by 21.2% in the first quarter. KBC Group NV now owns 2,350 shares of the energy company’s stock worth $273,000 after purchasing an additional 411 shares during the period. GAMMA Investing LLC grew its stake in IDACORP by 20.8% in the first quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock worth $86,000 after purchasing an additional 127 shares during the period. Teacher Retirement System of Texas grew its stake in IDACORP by 103.0% in the first quarter. Teacher Retirement System of Texas now owns 8,484 shares of the energy company’s stock worth $986,000 after purchasing an additional 4,305 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in IDACORP by 7.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,583 shares of the energy company’s stock worth $765,000 after purchasing an additional 456 shares during the period. Finally, Bessemer Group Inc. grew its stake in IDACORP by 318.9% in the first quarter. Bessemer Group Inc. now owns 1,399 shares of the energy company’s stock worth $163,000 after purchasing an additional 1,065 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IDA shares. Morgan Stanley set a $128.00 price target on IDACORP and gave the stock an “equal weight” rating in a research note on Thursday, May 22nd. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. UBS Group reaffirmed a “neutral” rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wells Fargo & Company boosted their target price on IDACORP from $121.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Finally, Guggenheim raised their price target on IDACORP from $121.00 to $126.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and an average price target of $122.86.

IDACORP Price Performance

Shares of NYSE:IDA opened at $126.6370 on Thursday. IDACORP, Inc. has a 1-year low of $99.81 and a 1-year high of $128.40. 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 business has a fifty day moving average price of $119.77 and a 200-day moving average price of $116.72. The company has a market capitalization of $6.84 billion, a PE ratio of 22.30, a PEG ratio of 2.66 and a beta of 0.56.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The firm had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period last year, the company earned $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 5th. IDACORP’s dividend payout ratio is presently 60.56%.

IDACORP 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.