IDACORP, Inc. $IDA Holdings Decreased by Tributary Capital Management LLC

Tributary Capital Management LLC reduced its stake in shares of IDACORP, Inc. (NYSE:IDA) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,358 shares of the energy company’s stock after selling 12,342 shares during the quarter. IDACORP comprises about 1.9% of Tributary Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Tributary Capital Management LLC’s holdings in IDACORP were worth $21,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Securian Asset Management Inc. raised its stake in shares of IDACORP by 2.5% during the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock valued at $476,000 after purchasing an additional 100 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of IDACORP by 33.7% during the second quarter. William Blair Investment Management LLC now owns 637,110 shares of the energy company’s stock valued at $73,554,000 after purchasing an additional 160,717 shares in the last quarter. Spirit of America Management Corp NY raised its stake in shares of IDACORP by 137.2% during the second quarter. Spirit of America Management Corp NY now owns 5,100 shares of the energy company’s stock valued at $589,000 after purchasing an additional 2,950 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of IDACORP by 0.4% during the second quarter. New York State Teachers Retirement System now owns 77,582 shares of the energy company’s stock valued at $8,957,000 after purchasing an additional 300 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in IDACORP by 1.3% in the second quarter. Boston Trust Walden Corp now owns 566,732 shares of the energy company’s stock worth $65,429,000 after acquiring an additional 7,250 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Trading Up 0.0%

Shares of IDA opened at $135.78 on Thursday. The business’s 50-day moving average price is $128.91 and its 200 day moving average price is $121.43. The stock has a market capitalization of $7.34 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.90 and a beta of 0.56. IDACORP, Inc. has a 1-year low of $100.10 and a 1-year 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.

IDACORP (NYSE:IDA) last issued its quarterly 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. The firm had revenue of $531.10 million for the quarter, compared to analysts’ expectations of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter last year, the business posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th will be paid a dividend of $0.88 per share. This is a boost from IDACORP’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is presently 60.56%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of IDACORP from $144.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group reiterated 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. BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $133.38.

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.