IDACORP, Inc. $IDA Stake Lifted by Tributary Capital Management LLC

Tributary Capital Management LLC raised its stake in IDACORP, Inc. (NYSE:IDA) by 90.5% during the third quarter, Holdings Channel reports. The firm owned 349,330 shares of the energy company’s stock after purchasing an additional 165,972 shares during the period. IDACORP makes up about 2.2% of Tributary Capital Management LLC’s holdings, making the stock its 8th biggest holding. Tributary Capital Management LLC’s holdings in IDACORP were worth $46,164,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its position in IDACORP by 418.2% during the 3rd quarter. SG Americas Securities LLC now owns 37,846 shares of the energy company’s stock worth $5,001,000 after purchasing an additional 30,543 shares during the period. HB Wealth Management LLC increased its position in shares of IDACORP by 20.7% during the third quarter. HB Wealth Management LLC now owns 2,226 shares of the energy company’s stock worth $294,000 after acquiring an additional 381 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of IDACORP by 2.2% in the third quarter. D.A. Davidson & CO. now owns 5,106 shares of the energy company’s stock worth $675,000 after acquiring an additional 111 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in IDACORP in the third quarter valued at about $227,000. Finally, Signaturefd LLC increased its holdings in IDACORP by 8.2% during the 3rd quarter. Signaturefd LLC now owns 3,310 shares of the energy company’s stock worth $437,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IDA. Jefferies Financial Group restated a “buy” rating and issued a $152.00 price target on shares of IDACORP in a research note on Monday, December 1st. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley set a $139.00 target price on shares of IDACORP and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Finally, BTIG Research upgraded IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. One investment 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 a consensus rating of “Moderate Buy” and an average price target of $137.88.

IDACORP Stock Down 2.0%

IDA stock opened at $126.55 on Thursday. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.51 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 firm has a fifty day moving average price of $127.86 and a two-hundred day moving average price of $126.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating 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 business had revenue of $524.42 million during the quarter, compared to analyst estimates of $663.09 million. During the same period in the previous year, the business posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

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

IDACORP Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.