Osaic Holdings Inc. Purchases 6,915 Shares of IDACORP, Inc. $IDA

Osaic Holdings Inc. raised its position in shares of IDACORP, Inc. (NYSE:IDA) by 120.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,651 shares of the energy company’s stock after purchasing an additional 6,915 shares during the quarter. Osaic Holdings Inc.’s holdings in IDACORP were worth $1,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of IDACORP by 6.3% in the second quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after buying an additional 110,885 shares during the last quarter. Alliancebernstein L.P. raised its position in IDACORP by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after acquiring an additional 13,283 shares during the period. Jennison Associates LLC boosted its stake in shares of IDACORP by 115.3% during the 2nd quarter. Jennison Associates LLC now owns 1,323,656 shares of the energy company’s stock worth $152,816,000 after acquiring an additional 708,989 shares during the last quarter. Geode Capital Management LLC grew its position in shares of IDACORP by 1.5% during 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 acquiring an additional 15,223 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of IDACORP by 33.7% in the 2nd quarter. William Blair Investment Management LLC now owns 637,110 shares of the energy company’s stock worth $73,554,000 after purchasing an additional 160,717 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IDA. Wells Fargo & Company upgraded IDACORP to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Morgan Stanley set a $139.00 price target on IDACORP and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Mizuho upped 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. Finally, BTIG Research raised IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.88.

IDACORP Trading Down 0.2%

Shares of IDACORP stock opened at $127.43 on Wednesday. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.72 and a beta of 0.61. The business has a 50-day moving average price of $128.82 and a 200-day moving average price of $125.92. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95. IDACORP, Inc. has a twelve month low of $104.74 and a twelve month high of $138.03.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.The company had revenue of $524.42 million for the quarter, compared to the consensus estimate of $663.09 million. During the same period in the previous year, the business earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio is currently 60.48%.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.