IDACORP, Inc. $IDA Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC decreased its position in IDACORP, Inc. (NYSE:IDA) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,358 shares of the energy company’s stock after selling 12,342 shares during the quarter. IDACORP accounts for about 1.9% of Tributary Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Tributary Capital Management LLC owned approximately 0.34% of IDACORP worth $21,169,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in IDACORP by 3.2% in the first quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company’s stock valued at $410,970,000 after acquiring an additional 111,182 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of IDACORP by 10.5% during 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 buying an additional 200,465 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of IDACORP by 0.9% during the first quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company’s stock worth $161,728,000 after buying an additional 12,156 shares in the last quarter. Reaves W H & Co. Inc. grew its position in shares of IDACORP by 25.0% during 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 buying an additional 249,542 shares in the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of IDACORP by 33.7% during the second quarter. William Blair Investment Management LLC now owns 637,110 shares of the energy company’s stock worth $73,554,000 after buying an additional 160,717 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

IDACORP stock opened at $135.78 on Thursday. The company has a market cap of $7.34 billion, a PE ratio of 23.91, a P/E/G ratio of 2.90 and a beta of 0.56. The company has a fifty day moving average price of $128.91 and a two-hundred day moving average price of $121.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.45 and a quick ratio of 1.12. IDACORP, Inc. has a 12 month low of $100.10 and a 12 month high of $138.03.

IDACORP (NYSE:IDA) last posted its 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 analysts’ expectations of $478.14 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period last year, the business posted $1.71 earnings per share. IDACORP has set its FY 2025 guidance at 5.700-5.850 EPS. Research analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Increases Dividend

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

Analyst Ratings Changes

IDA has been the subject of a number of recent analyst reports. UBS Group reissued a “neutral” rating and set a $120.00 price target (up previously from $118.00) on shares of IDACORP in a research report on Friday, July 11th. Morgan Stanley reissued an “outperform” rating and set a $141.00 price target on shares of IDACORP in a research report on Wednesday. Jefferies Financial Group raised 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. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. One research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.38.

IDACORP Company 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.