William Blair Investment Management LLC Acquires 160,717 Shares of IDACORP, Inc. $IDA

William Blair Investment Management LLC grew its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 33.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637,110 shares of the energy company’s stock after buying an additional 160,717 shares during the quarter. William Blair Investment Management LLC owned approximately 1.18% of IDACORP worth $73,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its position in IDACORP by 3.2% during the 1st quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company’s stock worth $410,970,000 after buying an additional 111,182 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of IDACORP by 10.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company’s stock valued at $245,243,000 after purchasing an additional 200,465 shares during the period. Alliancebernstein L.P. raised its holdings in shares of IDACORP by 0.9% in the 1st quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company’s stock valued at $161,728,000 after purchasing an additional 12,156 shares during the period. Reaves W H & Co. Inc. raised its holdings in shares of IDACORP by 25.0% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock valued at $145,034,000 after purchasing an additional 249,542 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of IDACORP in the 1st quarter valued at about $71,437,000. 89.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. UBS Group reaffirmed a “neutral” rating and issued a $120.00 target price (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.29.

IDACORP Stock Up 0.1%

IDACORP stock opened at $135.97 on Friday. The stock has a market cap 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 has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a twelve month low of $100.10 and a twelve month high of $137.17. 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 released its quarterly earnings results on Thursday, July 31st. The energy company reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The firm had revenue of $531.10 million for the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.71 EPS. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. 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 currently 60.56%.

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.