Seven Grand Managers LLC Sells 20,000 Shares of IDACORP, Inc. $IDA

Seven Grand Managers LLC cut its holdings in IDACORP, Inc. (NYSE:IDA) by 50.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the energy company’s stock after selling 20,000 shares during the period. Seven Grand Managers LLC’s holdings in IDACORP were worth $2,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. AMG National Trust Bank raised its position in shares of IDACORP by 0.7% in the 3rd quarter. AMG National Trust Bank now owns 11,665 shares of the energy company’s stock worth $1,542,000 after acquiring an additional 80 shares in the last quarter. Assetmark Inc. raised its position in shares of IDACORP by 7.6% in the 3rd quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock worth $149,000 after acquiring an additional 80 shares in the last quarter. AssuredPartners Investment Advisors LLC raised its position in shares of IDACORP by 5.1% in the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock worth $209,000 after acquiring an additional 80 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of IDACORP by 31.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock worth $53,000 after acquiring an additional 97 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in shares of IDACORP by 48.0% in the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after acquiring an additional 98 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Mizuho set a $157.00 target price on IDACORP in a research note on Friday, May 1st. Finally, UBS Group raised their target price on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $148.57.

IDACORP Price Performance

IDA stock opened at $143.73 on Thursday. The company has a market capitalization of $7.96 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. IDACORP, Inc. has a 52-week low of $111.12 and a 52-week high of $149.73. The business has a 50-day simple moving average of $143.44 and a two-hundred day simple moving average of $136.55.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter in the previous year, the business earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts expect that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s payout ratio is 58.57%.

IDACORP Profile

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.