406,400 Shares in IDACORP, Inc. $IDA Bought by Soros Fund Management LLC

Soros Fund Management LLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 406,400 shares of the energy company’s stock, valued at approximately $46,919,000. Soros Fund Management LLC owned approximately 0.75% of IDACORP at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Parkside Financial Bank & Trust boosted its holdings in IDACORP by 33.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 382 shares of the energy company’s stock valued at $44,000 after acquiring an additional 96 shares during the period. GAMMA Investing LLC lifted its stake in shares of IDACORP by 13.4% during the 2nd quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock worth $97,000 after purchasing an additional 99 shares during the last quarter. Securian Asset Management Inc. boosted its holdings in shares of IDACORP by 2.5% in the 2nd quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock valued at $476,000 after buying an additional 100 shares in the last quarter. UMB Bank n.a. grew its holdings in IDACORP by 3.8% in the second quarter. UMB Bank n.a. now owns 2,779 shares of the energy company’s stock worth $321,000 after purchasing an additional 102 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its position in IDACORP by 3.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 3,896 shares of the energy company’s stock valued at $450,000 after buying an additional 112 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.0%

Shares of NYSE IDA opened at $125.82 on Friday. The firm has a market cap of $6.80 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.68 and a beta of 0.61. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.82 and a current ratio of 1.09. IDACORP, Inc. has a 1 year low of $104.74 and a 1 year high of $138.03. The firm’s 50 day moving average price is $130.91 and its 200 day moving average price is $124.80.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. The firm had revenue of $524.42 million during the quarter, compared to analyst estimates of $663.09 million. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. During the same quarter in the prior year, the business posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was 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 dividend yield of 2.8%. IDACORP’s dividend payout ratio is presently 60.48%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $152.00 price target on shares of IDACORP in a research note on Monday, December 1st. Finally, Mizuho raised their target price on IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.50.

About IDACORP

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.