Universal Beteiligungs und Servicegesellschaft mbH Has $7.84 Million Stake in IDACORP, Inc. $IDA

Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in IDACORP, Inc. (NYSE:IDA) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,899 shares of the energy company’s stock after purchasing an additional 1,464 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in IDACORP were worth $7,839,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in IDACORP by 21.6% during the second quarter. Teacher Retirement System of Texas now owns 10,318 shares of the energy company’s stock worth $1,191,000 after acquiring an additional 1,834 shares during the period. LPL Financial LLC grew its position in IDACORP by 11.2% in the 1st quarter. LPL Financial LLC now owns 32,058 shares of the energy company’s stock worth $3,726,000 after purchasing an additional 3,237 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of IDACORP by 8.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 185,762 shares of the energy company’s stock worth $21,446,000 after purchasing an additional 14,145 shares during the period. American Century Companies Inc. increased its holdings in shares of IDACORP by 2.3% during the 1st quarter. American Century Companies Inc. now owns 16,019 shares of the energy company’s stock worth $1,862,000 after purchasing an additional 358 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of IDACORP by 4.6% during the first quarter. Voya Investment Management LLC now owns 8,098 shares of the energy company’s stock valued at $941,000 after buying an additional 353 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

NYSE:IDA opened at $126.84 on Friday. The stock has a market capitalization of $6.86 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59. IDACORP, Inc. has a 1 year low of $104.74 and a 1 year high of $138.03. The firm has a 50 day moving average of $130.83 and a 200-day moving average of $123.42. 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 data on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. The firm had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter in the previous year, the company posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 5th will be given a dividend of $0.88 per share. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, November 5th. This represents a $3.52 annualized dividend and a yield of 2.8%. IDACORP’s dividend payout ratio is currently 60.48%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IDA shares. Morgan Stanley set a $137.00 target price on IDACORP in a research report on Thursday. Jefferies Financial Group lifted 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. BTIG Research upgraded IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Finally, Mizuho increased their price objective on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, IDACORP presently has a consensus rating of “Moderate Buy” and an average price target of $136.88.

IDACORP 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.