Cambiar Investors LLC Sells 6,764 Shares of IDACORP, Inc. $IDA

Cambiar Investors LLC decreased its position in IDACORP, Inc. (NYSE:IDA) by 35.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,379 shares of the energy company’s stock after selling 6,764 shares during the period. Cambiar Investors LLC’s holdings in IDACORP were worth $1,429,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IDA. GAMMA Investing LLC boosted its stake in IDACORP by 20.8% in the 1st quarter. GAMMA Investing LLC now owns 737 shares of the energy company’s stock worth $86,000 after purchasing an additional 127 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in IDACORP by 4.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,487 shares of the energy company’s stock worth $289,000 after purchasing an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in IDACORP by 19.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 77,424 shares of the energy company’s stock worth $9,089,000 after purchasing an additional 12,769 shares in the last quarter. KBC Group NV raised its position in IDACORP by 21.2% in the 1st quarter. KBC Group NV now owns 2,350 shares of the energy company’s stock worth $273,000 after buying an additional 411 shares during the last quarter. Finally, Keybank National Association OH raised its position in IDACORP by 9.7% in the 1st quarter. Keybank National Association OH now owns 10,955 shares of the energy company’s stock worth $1,273,000 after buying an additional 969 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

IDA has been the subject of a number of recent analyst reports. Wells Fargo & Company raised IDACORP to a “hold” rating in a research report on Tuesday, October 28th. UBS Group reissued a “neutral” rating and set a $120.00 price objective (up from $118.00) on shares of IDACORP in a report on Friday, July 11th. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Finally, BTIG Research raised shares of IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and an average price target of $137.38.

IDACORP Price Performance

Shares of NYSE:IDA opened at $128.98 on Friday. The firm’s 50 day moving average price is $129.93 and its 200-day moving average price is $122.39. IDACORP, Inc. has a twelve month low of $100.10 and a twelve month high of $138.03. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $6.97 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 2.86 and a beta of 0.56.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $663.09 million. During the same quarter in the prior year, the business earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities research analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The company 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis 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 (DPR) is 60.56%.

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.