SG Americas Securities LLC Increases Position in IDACORP, Inc. $IDA

SG Americas Securities LLC increased its holdings in IDACORP, Inc. (NYSE:IDA) by 418.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,846 shares of the energy company’s stock after acquiring an additional 30,543 shares during the quarter. SG Americas Securities LLC’s holdings in IDACORP were worth $5,001,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after purchasing an additional 2,625 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of IDACORP by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after buying an additional 21,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in IDACORP by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock valued at $16,698,000 after acquiring an additional 10,855 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in IDACORP by 104.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,073 shares of the energy company’s stock valued at $125,000 after acquiring an additional 549 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in IDACORP by 9.6% during the 1st quarter. Acadian Asset Management LLC now owns 38,704 shares of the energy company’s stock valued at $4,496,000 after acquiring an additional 3,395 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE:IDA opened at $128.07 on Friday. The company has a market cap of $6.92 billion, a PE ratio of 22.01, a P/E/G ratio of 2.49 and a beta of 0.61. IDACORP, Inc. has a fifty-two week low of $104.74 and a fifty-two week high of $138.03. The firm has a 50-day simple moving average of $127.77 and a 200 day simple moving average of $126.58. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating 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 in the previous year, the firm posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, November 5th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. This is an increase from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s payout ratio is presently 60.48%.

Analyst Upgrades and Downgrades

IDA has been the subject of several research analyst reports. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $139.00 price target on IDACORP and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Jefferies Financial Group restated a “buy” rating and set a $152.00 price objective on shares of IDACORP in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Finally, Wells Fargo & Company upgraded IDACORP to a “hold” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $137.88.

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.