Strs Ohio Reduces Position in IDACORP, Inc. $IDA

Strs Ohio decreased its position in IDACORP, Inc. (NYSE:IDA) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,882 shares of the energy company’s stock after selling 5,900 shares during the period. Strs Ohio owned approximately 0.26% of IDACORP worth $18,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of IDACORP in the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in IDACORP during the 2nd quarter worth approximately $28,000. Ameritas Advisory Services LLC acquired a new stake in IDACORP during the 2nd quarter valued at approximately $31,000. Smartleaf Asset Management LLC boosted its holdings in shares of IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after acquiring an additional 119 shares during the last quarter. Finally, Riverview Trust Co purchased a new stake in IDACORP in the second quarter valued at $42,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IDA. Mizuho boosted their price target on IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. UBS Group dropped their target price on IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. BTIG Research raised IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Thursday. Finally, Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $129.00 to $118.00 in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and an average price target of $138.11.

IDACORP Price Performance

Shares of IDA stock opened at $132.02 on Friday. IDACORP, Inc. has a 12 month low of $107.64 and a 12 month high of $138.03. The company has a market capitalization of $7.13 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. The firm’s 50-day moving average is $128.45 and its two-hundred day moving average is $127.79. 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 earnings results 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 return on equity of 9.35% and a net margin of 17.59%.The company had revenue of $524.42 million during the quarter, compared to analysts’ expectations of $663.09 million. During the same quarter last year, the firm earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is 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.