IDACORP, Inc. $IDA Stake Raised by Tributary Capital Management LLC

Tributary Capital Management LLC boosted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 90.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 349,330 shares of the energy company’s stock after buying an additional 165,972 shares during the quarter. IDACORP accounts for 2.2% of Tributary Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Tributary Capital Management LLC owned approximately 0.65% of IDACORP worth $46,164,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IDA. Parkside Financial Bank & Trust raised its stake in shares of IDACORP by 33.6% in the second quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after acquiring an additional 96 shares in the last quarter. GAMMA Investing LLC increased its holdings in IDACORP by 13.4% during the 2nd quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after purchasing an additional 99 shares during the period. Securian Asset Management Inc. increased its holdings in IDACORP by 2.5% during the 2nd quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock worth $476,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. raised its position in IDACORP by 3.8% in the 2nd quarter. UMB Bank n.a. now owns 2,779 shares of the energy company’s stock valued at $321,000 after purchasing an additional 102 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of IDACORP by 2.2% in the 3rd quarter. D.A. Davidson & CO. now owns 5,106 shares of the energy company’s stock valued at $675,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IDA. UBS Group cut their target price on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Mizuho boosted their price target on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Jefferies Financial Group restated a “buy” rating and issued a $152.00 price objective on shares of IDACORP in a report on Monday, December 1st. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. 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 stock. Based on data from MarketBeat.com, IDACORP has a consensus rating of “Moderate Buy” and a consensus price target of $137.88.

IDACORP Stock Performance

NYSE:IDA opened at $126.55 on Thursday. The firm’s fifty day moving average price is $127.86 and its 200 day moving average price is $126.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. The firm has a market cap of $6.84 billion, a price-to-earnings ratio of 21.74, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. IDACORP, Inc. has a 1-year low of $104.74 and a 1-year high of $138.03.

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

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio is presently 60.48%.

About IDACORP

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.