Securian Asset Management Inc. Boosts Stock Holdings in IDACORP, Inc. $IDA

Securian Asset Management Inc. boosted its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,127 shares of the energy company’s stock after purchasing an additional 100 shares during the period. Securian Asset Management Inc.’s holdings in IDACORP were worth $476,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Elite Financial Inc. purchased a new position in IDACORP during the first quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd raised its stake in 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 purchasing an additional 230 shares during the period. Ameritas Advisory Services LLC purchased a new position in IDACORP during the second quarter worth approximately $31,000. Riverview Trust Co purchased a new position in IDACORP during the second quarter worth approximately $42,000. Finally, Byrne Asset Management LLC purchased a new position in IDACORP during the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IDA shares. UBS Group reissued a “neutral” rating and issued a $120.00 target price (up previously from $118.00) on shares of IDACORP in a research note on Friday, July 11th. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research note on Wednesday. Finally, Morgan Stanley reissued an “outperform” rating and issued a $141.00 target price on shares of IDACORP in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.38.

IDACORP Price Performance

IDA opened at $135.02 on Friday. The company has a fifty day simple moving average of $129.28 and a 200 day simple moving average of $121.73. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.87 and a beta of 0.56. IDACORP, Inc. has a twelve month low of $100.10 and a twelve 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.

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

IDACORP Increases Dividend

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

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.