State of Alaska Department of Revenue Buys 15,355 Shares of IDACORP, Inc. $IDA

State of Alaska Department of Revenue grew its stake in IDACORP, Inc. (NYSE:IDA) by 34.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 59,990 shares of the energy company’s stock after buying an additional 15,355 shares during the period. State of Alaska Department of Revenue’s holdings in IDACORP were worth $7,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDA. GAMMA Investing LLC grew its holdings in shares of IDACORP by 18.1% during the third quarter. GAMMA Investing LLC now owns 1,975 shares of the energy company’s stock valued at $258,000 after buying an additional 303 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of IDACORP by 6.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,261 shares of the energy company’s stock valued at $426,000 after acquiring an additional 204 shares during the period. Congress Asset Management Co. increased its position in shares of IDACORP by 20.6% in the 3rd quarter. Congress Asset Management Co. now owns 25,073 shares of the energy company’s stock valued at $3,278,000 after acquiring an additional 4,275 shares during the period. CX Institutional raised its stake in IDACORP by 5,486.7% in the 3rd quarter. CX Institutional now owns 838 shares of the energy company’s stock worth $110,000 after acquiring an additional 823 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in IDACORP by 62.1% in the 3rd quarter. Versant Capital Management Inc now owns 799 shares of the energy company’s stock worth $104,000 after acquiring an additional 306 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 analysts have commented on the company. Barclays lowered their price target on IDACORP from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. BTIG Research reissued a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Morgan Stanley reduced their price objective on IDACORP from $151.00 to $143.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Finally, Wells Fargo & Company lifted their target price on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $150.86.

IDACORP Stock Performance

Shares of NYSE IDA opened at $136.60 on Friday. The company has a 50 day simple moving average of $135.53 and a two-hundred day simple moving average of $141.72. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 2.37 and a beta of 0.48. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a 12 month low of $124.12 and a 12 month high of $154.91.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. During the same quarter in the prior year, the business earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 5th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.88. This represents a $3.60 annualized dividend and a yield of 2.6%. IDACORP’s dividend payout ratio is currently 58.28%.

IDACORP Company Profile

IDACORP, Inc (NYSE: IDA) is an energy holding company headquartered in Boise, Idaho. Its principal subsidiary, Idaho Power Company, is a regulated electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves a broad territory covering southern Idaho and eastern Oregon. Its electricity supply portfolio includes hydroelectric generation, natural gas and other thermal resources, as well as power purchased from renewable and other third-party sources.