Westwood Holdings Group Inc. Increases Stake in IDACORP, Inc. $IDA

by · The Markets Daily

Westwood Holdings Group Inc. lifted its stake in IDACORP, Inc. (NYSE:IDA – Free Report) by 10.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor 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 reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in IDACORP by 33.6% in 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 last quarter. GAMMA Investing LLC boosted its holdings in shares of IDACORP by 13.4% during the 2nd quarter. GAMMA Investing LLC now owns 836 shares of the energy company’s stock valued at $97,000 after purchasing an additional 99 shares during the last quarter. Securian Asset Management Inc. grew its position in shares of IDACORP by 2.5% during the second quarter. Securian Asset Management Inc. now owns 4,127 shares of the energy company’s stock valued at $476,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of 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 holdings in shares of IDACORP by 3.0% in the second quarter. IFM Investors Pty Ltd now owns 3,896 shares of the energy company’s stock worth $450,000 after purchasing an additional 112 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 research reports. UBS Group reissued a “neutral” rating on shares of IDACORP in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research report on Wednesday, October 8th. BTIG Research raised shares of IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. Jefferies Financial Group restated a “buy” rating and issued a $152.00 price target on shares of IDACORP in a research report on Monday, December 1st. Finally, Morgan Stanley set a $137.00 price objective on shares of IDACORP in a research report on Thursday, November 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, IDACORP currently has an average rating of “Moderate Buy” and a consensus price target of $136.50.

Check Out Our Latest Report on IDA

IDACORP Price Performance

Shares of IDACORP stock opened at $125.99 on Monday. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.69 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. The stock has a 50 day moving average price of $130.78 and a 200-day moving average price of $124.99. IDACORP, Inc. has a one year low of $104.74 and a one year high of $138.03.

IDACORP (NYSE:IDA – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The company had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.During the same period last year, the company earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities analysts expect that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 5th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio is presently 60.48%.

About IDACORP

(Free Report)

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.

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