IDACORP, Inc. (NYSE:IDA) Announces $0.88 Quarterly Dividend

IDACORP, Inc. (NYSE:IDA) declared a quarterly dividend on Thursday, January 15th. Stockholders of record on Thursday, February 5th will be given a dividend of 0.88 per share by the energy company on Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, February 5th.

IDACORP has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 13 years. IDACORP has a payout ratio of 55.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect IDACORP to earn $6.47 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 54.4%.

IDACORP Stock Up 0.3%

Shares of IDACORP stock opened at $132.58 on Friday. IDACORP has a twelve month low of $106.93 and a twelve month high of $138.03. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $127.92 and its 200 day moving average is $126.96. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The business 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 period in the previous year, the business earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Research analysts anticipate that IDACORP will post 5.81 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after buying an additional 189 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of IDACORP during the third quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of IDACORP during the second quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new stake in IDACORP during the 3rd quarter valued at approximately $34,000. Finally, Ameritas Advisory Services LLC purchased a new position in IDACORP in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.