Y Intercept Hong Kong Ltd Purchases Shares of 2,257 IDACORP, Inc. $IDA

Y Intercept Hong Kong Ltd acquired a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,257 shares of the energy company’s stock, valued at approximately $261,000.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in IDACORP by 8.2% in the second quarter. Envestnet Asset Management Inc. now owns 185,762 shares of the energy company’s stock valued at $21,446,000 after acquiring an additional 14,145 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of IDACORP by 1.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,520 shares of the energy company’s stock valued at $1,215,000 after purchasing an additional 150 shares during the last quarter. Leeward Investments LLC MA lifted its holdings in shares of IDACORP by 41.8% in the 2nd quarter. Leeward Investments LLC MA now owns 172,134 shares of the energy company’s stock valued at $19,873,000 after purchasing an additional 50,720 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of IDACORP by 0.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 17,854 shares of the energy company’s stock valued at $2,061,000 after purchasing an additional 144 shares during the period. Finally, AlphaQuest LLC grew its stake in IDACORP by 46.3% during the 2nd quarter. AlphaQuest LLC now owns 3,272 shares of the energy company’s stock worth $378,000 after buying an additional 1,035 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Up 1.2%

IDA opened at $129.54 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. IDACORP, Inc. has a 12 month low of $104.74 and a 12 month high of $138.03. The stock has a market capitalization of $7.00 billion, a P/E ratio of 22.81, a P/E/G ratio of 2.86 and a beta of 0.59. The business has a 50 day simple moving average of $130.23 and a 200-day simple moving average of $122.77.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $663.69 million during the quarter, compared to analysts’ expectations of $663.09 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter in the prior year, the business posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, equities analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be issued a dividend of $0.88 per share. This is an increase from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, November 5th. IDACORP’s payout ratio is presently 60.48%.

Analysts Set New Price Targets

IDA has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. Mizuho raised 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. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Jefferies Financial Group boosted their price objective on shares of IDACORP from $144.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. One equities research 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 stock. According to MarketBeat.com, IDACORP presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.38.

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.