KBC Group NV Has $178,000 Position in IDACORP, Inc. $IDA

KBC Group NV decreased its stake in IDACORP, Inc. (NYSE:IDA) by 34.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,544 shares of the energy company’s stock after selling 806 shares during the quarter. KBC Group NV’s holdings in IDACORP were worth $178,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IDA. Legacy Investment Solutions LLC purchased a new stake in shares of IDACORP during the 2nd quarter worth about $28,000. Caitong International Asset Management Co. Ltd grew its position in IDACORP by 621.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock worth $31,000 after acquiring an additional 230 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in IDACORP in the second quarter worth approximately $31,000. Riverview Trust Co acquired a new position in shares of IDACORP during the 2nd quarter worth $42,000. Finally, Parkside Financial Bank & Trust raised its holdings in IDACORP by 33.6% during the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research report on Tuesday, October 28th. Mizuho increased their target price on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Jefferies Financial Group lifted their target price on IDACORP from $144.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Finally, Morgan Stanley reissued an “outperform” rating and set a $141.00 price objective on shares of IDACORP in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.38.

IDACORP Stock Down 0.8%

NYSE IDA opened at $126.09 on Thursday. IDACORP, Inc. has a 1-year low of $104.74 and a 1-year high of $138.03. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 2.86 and a beta of 0.59. The stock’s 50 day moving average is $130.81 and its two-hundred day moving average is $123.39. 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 (NYSE:IDA) last posted its earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.The business had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. During the same quarter last year, the company earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s payout ratio is currently 60.48%.

IDACORP Company 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.