Westwood Holdings Group Inc. Boosts Stock Position in IDACORP, Inc. $IDA

Westwood Holdings Group Inc. raised its stake in shares of IDACORP, Inc. (NYSE:IDA) by 10.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,537 shares of the energy company’s stock after buying an additional 31,204 shares during the quarter. Westwood Holdings Group Inc.’s holdings in IDACORP were worth $37,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IDA. Cetera Investment Advisers lifted its position in IDACORP by 3.2% in the 2nd quarter. Cetera Investment Advisers now owns 10,391 shares of the energy company’s stock valued at $1,200,000 after acquiring an additional 325 shares in the last quarter. Creative Planning increased its position in IDACORP by 4.8% during the second quarter. Creative Planning now owns 20,247 shares of the energy company’s stock valued at $2,338,000 after acquiring an additional 929 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in IDACORP by 16.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 119,104 shares of the energy company’s stock valued at $13,751,000 after acquiring an additional 17,137 shares during the period. Foundations Investment Advisors LLC boosted its position in IDACORP by 4.3% in the second quarter. Foundations Investment Advisors LLC now owns 5,548 shares of the energy company’s stock worth $640,000 after purchasing an additional 227 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of IDACORP by 5.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 20,593 shares of the energy company’s stock valued at $2,377,000 after purchasing an additional 1,151 shares during the period. Institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley reiterated an “outperform” rating and issued a $141.00 price target on shares of IDACORP in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Wednesday, October 8th. Mizuho upped their price objective on IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, IDACORP presently has a consensus rating of “Moderate Buy” and an average target price of $137.38.

IDACORP Stock Down 0.7%

IDA opened at $128.21 on Friday. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 2.86 and a beta of 0.59. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.12 and a current ratio of 1.45. The firm’s fifty day moving average is $130.65 and its 200 day moving average is $123.15. IDACORP, Inc. has a fifty-two week low of $104.74 and a fifty-two week high of $138.03.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The business had revenue of $524.42 million for the quarter, compared to analysts’ expectations of $663.09 million. IDACORP had a return on equity of 9.18% and a net margin of 16.96%.During the same period last 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 forecast that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared 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. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, November 5th. This is a positive change from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio is currently 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.