Nuance Investments LLC Sells 8,539 Shares of IDACORP, Inc. $IDA

Nuance Investments LLC decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,562 shares of the energy company’s stock after selling 8,539 shares during the period. Nuance Investments LLC owned 0.06% of IDACORP worth $3,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in IDACORP in the 2nd quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new stake in shares of IDACORP during the second quarter worth $31,000. Caitong International Asset Management Co. Ltd lifted its position in shares of IDACORP by 621.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock worth $31,000 after acquiring an additional 230 shares in the last quarter. Riverview Trust Co bought a new position in shares of IDACORP in the second quarter worth $42,000. Finally, Parkside Financial Bank & Trust grew its position in shares of IDACORP by 33.6% in the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IDA shares. Jefferies Financial Group increased their price objective on IDACORP from $144.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a report on Tuesday, October 28th. Mizuho raised their price objective on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. One investment 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 stock. Based on data from MarketBeat.com, IDACORP presently has an average rating of “Moderate Buy” and an average target price of $137.38.

IDACORP Stock Performance

Shares of IDA opened at $129.54 on Friday. IDACORP, Inc. has a 12-month low of $104.74 and a 12-month high of $138.03. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 1.01. The company has a market cap of $7.00 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59. The stock has a 50-day moving average price of $130.23 and a 200-day moving average price of $122.77.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The business had revenue of $663.69 million for the quarter, compared to the consensus estimate of $663.09 million. During the same period last year, the firm posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a dividend 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%.

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.