William Blair Investment Management LLC Has $73.55 Million Holdings in IDACORP, Inc. $IDA

William Blair Investment Management LLC grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 33.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 637,110 shares of the energy company’s stock after purchasing an additional 160,717 shares during the period. William Blair Investment Management LLC’s holdings in IDACORP were worth $73,554,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in IDA. Elite Financial Inc. acquired a new stake in shares of IDACORP during the 1st quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd boosted its position in shares of IDACORP by 621.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock worth $31,000 after acquiring an additional 230 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth approximately $31,000. Riverview Trust Co acquired a new stake in shares of IDACORP during the 2nd quarter worth approximately $42,000. Finally, Farther Finance Advisors LLC boosted its position in shares of IDACORP by 879.1% during the 1st quarter. Farther Finance Advisors LLC now owns 421 shares of the energy company’s stock worth $49,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

IDA has been the topic of several analyst reports. UBS Group reiterated a “neutral” rating and set a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Morgan Stanley cut their target price 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. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.29.

IDACORP Stock Performance

Shares of IDACORP stock opened at $135.97 on Friday. IDACORP, Inc. has a fifty-two week low of $100.10 and a fifty-two week high of $137.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. The firm has a market capitalization of $7.35 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.90 and a beta of 0.56. The company’s 50 day moving average price is $128.27 and its two-hundred day moving average price is $121.06.

IDACORP (NYSE:IDA) last issued its 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 firm had revenue of $531.10 million for 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 quarter last year, the business posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 dividend yield of 2.6%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. The ex-dividend date is Wednesday, November 5th. IDACORP’s dividend payout ratio (DPR) is presently 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.