Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 17,137 Shares of IDACORP, Inc. $IDA

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 16.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,104 shares of the energy company's stock after acquiring an additional 17,137 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.22% of IDACORP worth $13,751,000 as of its most recent SEC filing.

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Several other institutional investors also recently modified their holdings of the business. Foundations Investment Advisors LLC increased its stake in IDACORP by 4.3% in the second quarter. Foundations Investment Advisors LLC now owns 5,548 shares of the energy company's stock valued at $640,000 after purchasing an additional 227 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in IDACORP by 5.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 20,593 shares of the energy company's stock valued at $2,377,000 after acquiring an additional 1,151 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of IDACORP by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company's stock valued at $117,905,000 after buying an additional 15,223 shares during the last quarter. Beck Bode LLC bought a new position in IDACORP during the second quarter worth about $18,066,000. Finally, CENTRAL TRUST Co grew its holdings in IDACORP by 12.3% in the 2nd quarter. CENTRAL TRUST Co now owns 1,530 shares of the energy company's stock valued at $177,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Mizuho raised their price objective on IDACORP from $129.00 to $144.00 and gave the stock an "outperform" rating in a research note on Monday, October 27th. Morgan Stanley reissued an "outperform" rating and issued a $141.00 target price on shares of IDACORP in a report on Wednesday, October 22nd. Wells Fargo & Company raised shares of IDACORP to a "hold" rating in a report on Tuesday, October 28th. Jefferies Financial Group increased 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, October 22nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.38.

Get Our Latest Stock Analysis on IDA

IDACORP Stock Performance

IDA stock opened at $128.21 on Monday. IDACORP, Inc. has a 1-year low of $104.74 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. The stock has a 50-day moving average price of $130.65 and a 200-day moving average price of $123.22. The firm has a market cap of $6.93 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $524.42 million during the quarter, compared to analysts' expectations of $663.09 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same quarter last year, the firm posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, equities research 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. Stockholders of record on Wednesday, November 5th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, November 5th. This is a boost from IDACORP's previous quarterly dividend of $0.86. IDACORP's dividend payout ratio (DPR) is presently 60.48%.

About IDACORP

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.

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