Energy Income Partners LLC Buys New Shares in IDACORP, Inc. $IDA

Energy Income Partners LLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 400,649 shares of the energy company’s stock, valued at approximately $60,618,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in IDACORP by 79.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock worth $690,000 after acquiring an additional 2,625 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of IDACORP by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of IDACORP by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after purchasing an additional 10,855 shares in the last quarter. American Century Companies Inc. increased its stake in shares of IDACORP by 12.6% in the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of IDACORP by 5.7% during the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock valued at $28,538,000 after purchasing an additional 13,297 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

IDA opened at $142.19 on Wednesday. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.46 and a beta of 0.48. The company has a fifty day moving average of $146.20 and a 200 day moving average of $143.31. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. The business had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter in the previous year, the company earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 5th. IDACORP’s payout ratio is currently 58.28%.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDA. Morgan Stanley reaffirmed an “overweight” rating and issued a $156.00 target price on shares of IDACORP in a report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Monday, August 3rd. BTIG Research restated a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday, July 23rd. Wells Fargo & Company upped their price objective on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Finally, Mizuho set a $157.00 target price on IDACORP in a research report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, IDACORP has a consensus rating of “Moderate Buy” and an average target price of $154.57.

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% 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.