Callan Family Office LLC Purchases New Position in IDACORP, Inc. $IDA

Callan Family Office LLC bought a new position in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,898 shares of the energy company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDA. Jennison Associates LLC purchased a new stake in IDACORP in the first quarter worth approximately $71,437,000. Lord Abbett & CO. LLC boosted its holdings in IDACORP by 128.1% in the first quarter. Lord Abbett & CO. LLC now owns 524,123 shares of the energy company’s stock worth $60,914,000 after purchasing an additional 294,342 shares during the last quarter. Reaves W H & Co. Inc. boosted its holdings in IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock worth $145,034,000 after purchasing an additional 249,542 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in IDACORP by 10.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company’s stock worth $245,243,000 after purchasing an additional 200,465 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in IDACORP in the first quarter worth approximately $20,478,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.1%

IDA opened at $135.97 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. IDACORP, Inc. has a fifty-two week low of $100.10 and a fifty-two week high of $137.17. The firm’s fifty day moving average is $128.27 and its 200 day moving average is $121.05. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.90 and a beta of 0.56.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.76. The company had revenue of $531.10 million for the quarter, compared to the consensus estimate of $478.14 million. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. During the same period in the previous year, the firm posted $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. On average, sell-side analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. This is an increase from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s payout ratio is presently 60.56%.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research reports. Morgan Stanley dropped their target price on shares of IDACORP from $133.00 to $131.00 and set an “equal weight” rating on the stock in a report on Thursday, September 25th. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Finally, 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 note on Friday, July 11th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, IDACORP has an average rating of “Moderate Buy” and a consensus target price of $123.29.

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.