IDACORP, Inc. $IDA Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in IDACORP, Inc. (NYSE:IDA) by 35.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,126 shares of the energy company’s stock after buying an additional 13,930 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in IDACORP were worth $6,133,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in IDACORP during the second quarter worth about $28,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of IDACORP by 621.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the energy company’s stock worth $31,000 after purchasing an additional 230 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of IDACORP during the 2nd quarter worth approximately $31,000. Riverview Trust Co purchased a new stake in shares of IDACORP in the second quarter valued at approximately $42,000. Finally, Parkside Financial Bank & Trust increased its holdings 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 purchasing an additional 96 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IDA shares. BTIG Research upgraded IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Mizuho lifted their price target on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Morgan Stanley reissued an “outperform” rating and set a $141.00 price target on shares of IDACORP in a research report on Wednesday, October 22nd. Jefferies Financial Group raised their price objective on shares of IDACORP from $144.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $137.38.

IDACORP Price Performance

Shares of IDA opened at $130.87 on Thursday. The firm has a 50-day simple moving average of $130.51 and a two-hundred day simple moving average of $123.04. The stock has a market cap of $7.07 billion, a PE ratio of 23.04, a P/E/G ratio of 2.86 and a beta of 0.59. IDACORP, Inc. has a 1-year low of $104.74 and a 1-year high of $138.03. 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 (NYSE:IDA) last posted its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. IDACORP had a net margin of 16.96% and a return on equity of 9.18%. The firm had revenue of $663.69 million during the quarter, compared to analysts’ expectations of $663.09 million. During the same quarter last year, the company posted $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors 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 annualized dividend and a dividend yield of 2.7%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

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.