19,230 Shares in IDACORP, Inc. $IDA Bought by Tema Etfs LLC

Tema Etfs LLC bought a new stake in shares of IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 19,230 shares of the energy company’s stock, valued at approximately $2,220,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cetera Investment Advisers lifted its stake in IDACORP by 15.6% during the first quarter. Cetera Investment Advisers now owns 10,066 shares of the energy company’s stock valued at $1,170,000 after buying an additional 1,359 shares in the last quarter. LPL Financial LLC lifted its position in shares of IDACORP by 11.2% in the 1st quarter. LPL Financial LLC now owns 32,058 shares of the energy company’s stock valued at $3,726,000 after acquiring an additional 3,237 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of IDACORP in the 1st quarter valued at approximately $231,000. US Bancorp DE boosted its stake in IDACORP by 7.3% in the 1st quarter. US Bancorp DE now owns 25,954 shares of the energy company’s stock worth $3,016,000 after purchasing an additional 1,768 shares during the period. Finally, Townsquare Capital LLC grew its position in IDACORP by 5.0% during the 1st quarter. Townsquare Capital LLC now owns 3,694 shares of the energy company’s stock worth $429,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE:IDA opened at $126.46 on Friday. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 2.73 and a beta of 0.61. IDACORP, Inc. has a 1 year low of $104.74 and a 1 year high of $138.03. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $131.46 and a 200 day simple moving average of $124.47.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.During the same period last year, the business earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, sell-side analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th were paid a dividend of $0.88 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. The ex-dividend date was Wednesday, November 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.8%. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IDA shares. Mizuho increased their target price on IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Morgan Stanley set a $137.00 price target on IDACORP in a report on Thursday, November 20th. Jefferies Financial Group reissued a “buy” rating and issued a $152.00 price objective on shares of IDACORP in a research note on Monday. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Finally, UBS Group reiterated a “neutral” rating on shares of IDACORP in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

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.