Louisiana State Employees Retirement System Has $1.76 Million Position in IDACORP, Inc. $IDA

Louisiana State Employees Retirement System increased its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,200 shares of the energy company’s stock after acquiring an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in IDACORP were worth $1,755,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Principal Securities Inc. boosted its position in shares of IDACORP by 2.1% during the 1st quarter. Principal Securities Inc. now owns 4,410 shares of the energy company’s stock valued at $482,000 after acquiring an additional 92 shares in the last quarter. GAMMA Investing LLC boosted its position in IDACORP by 13.4% in the second quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock valued at $97,000 after buying an additional 99 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in IDACORP by 4.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company’s stock valued at $289,000 after buying an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its position in IDACORP by 0.8% in the first quarter. State of Michigan Retirement System now owns 12,720 shares of the energy company’s stock valued at $1,478,000 after buying an additional 100 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in IDACORP by 3.8% in the second quarter. UMB Bank n.a. now owns 2,779 shares of the energy company’s stock valued at $321,000 after buying an additional 102 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Down 0.1%

Shares of NYSE IDA opened at $134.34 on Friday. IDACORP, Inc. has a 1-year low of $99.92 and a 1-year high of $135.92. The company has a market cap of $7.26 billion, a PE ratio of 23.65, a P/E/G ratio of 2.87 and a beta of 0.56. 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 50-day moving average of $127.25 and a two-hundred day moving average of $120.41.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.76. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The company had revenue of $531.10 million during the quarter, compared to the consensus estimate of $478.14 million. During the same period in the previous year, the firm posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 5th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 5th. IDACORP’s payout ratio is 60.56%.

Analysts Set New Price Targets

A number of research firms have commented on IDA. Morgan Stanley reduced their price target on shares of IDACORP from $133.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 25th. UBS Group restated a “neutral” rating and issued a $120.00 price target (up from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.29.

IDACORP Company Profile

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.