Boston Trust Walden Corp Raises Position in IDACORP, Inc. $IDA

Boston Trust Walden Corp boosted its stake in IDACORP, Inc. (NYSE:IDA) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,732 shares of the energy company’s stock after buying an additional 7,250 shares during the quarter. Boston Trust Walden Corp owned approximately 1.05% of IDACORP worth $65,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Securities Inc. lifted its stake in IDACORP by 2.1% in the 1st quarter. Principal Securities Inc. now owns 4,410 shares of the energy company’s stock valued at $482,000 after buying an additional 92 shares in the last quarter. GAMMA Investing LLC lifted its stake in IDACORP by 13.4% in the 2nd quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after purchasing an additional 99 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of IDACORP by 4.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company’s stock worth $289,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System grew its position in shares of IDACORP by 0.8% in the first quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company’s stock valued at $1,478,000 after purchasing an additional 100 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of IDACORP by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the energy company’s stock valued at $1,732,000 after purchasing an additional 100 shares in the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on IDA. UBS Group restated a “neutral” rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Morgan Stanley dropped their price target 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. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, IDACORP presently has an average rating of “Moderate Buy” and an average price target of $123.29.

IDACORP Stock Performance

NYSE IDA opened at $134.03 on Tuesday. The stock has a market cap of $7.24 billion, a PE ratio of 23.60, a P/E/G ratio of 2.87 and a beta of 0.56. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a twelve month low of $100.10 and a twelve month high of $135.92. The stock has a fifty day simple moving average of $127.41 and a 200-day simple moving average of $120.58.

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

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 5th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 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.