Quantbot Technologies LP Increases Position in IDACORP, Inc. $IDA

Quantbot Technologies LP increased its position in shares of IDACORP, Inc. (NYSE:IDA) by 545.6% during the second quarter, Holdings Channel reports. The fund owned 27,141 shares of the energy company’s stock after acquiring an additional 22,937 shares during the quarter. Quantbot Technologies LP’s holdings in IDACORP were worth $3,133,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its stake in shares of IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock worth $44,000 after purchasing an additional 96 shares during the period. GAMMA Investing LLC increased its stake in IDACORP by 13.4% in the second quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock valued at $97,000 after purchasing an additional 99 shares during the last quarter. Securian Asset Management Inc. lifted its position in IDACORP by 2.5% during the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock worth $476,000 after buying an additional 100 shares during the period. UMB Bank n.a. lifted its position in IDACORP by 3.8% during the second quarter. UMB Bank n.a. now owns 2,779 shares of the energy company’s stock worth $321,000 after buying an additional 102 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in IDACORP by 3.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,896 shares of the energy company’s stock worth $450,000 after buying an additional 112 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Down 1.3%

NYSE IDA opened at $126.46 on Friday. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 2.73 and a beta of 0.61. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09. IDACORP, Inc. has a one year low of $104.74 and a one year high of $138.03. The company’s 50 day moving average price is $131.46 and its 200 day moving average price is $124.47.

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. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. The company had revenue of $524.42 million during the quarter, compared to analyst estimates of $663.09 million. During the same quarter in the prior year, the business earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, sell-side analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were paid a dividend of $0.88 per share. This is a boost from IDACORP’s previous quarterly dividend of $0.86. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Wednesday, November 5th. IDACORP’s payout ratio is presently 60.48%.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Morgan Stanley set a $137.00 target price on shares of IDACORP in a report on Thursday, November 20th. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th. BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, UBS Group restated a “neutral” rating on shares of IDACORP in a report on Tuesday. One 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. According to MarketBeat, IDACORP presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.50.

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.