Wellington Management Group LLP Sells 403,945 Shares of IDACORP, Inc. $IDA

Wellington Management Group LLP trimmed its stake in IDACORP, Inc. (NYSE:IDA) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,452,290 shares of the energy company’s stock after selling 403,945 shares during the quarter. Wellington Management Group LLP’s holdings in IDACORP were worth $371,031,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Torren Management LLC purchased a new stake in IDACORP during the fourth quarter valued at about $25,000. Osterweis Capital Management Inc. bought a new stake in IDACORP during the 2nd quarter valued at $25,000. Western Wealth Management LLC purchased a new stake in IDACORP during the 1st quarter worth about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IDACORP by 630.0% in the third 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. Finally, Trust Co. of Vermont purchased a new stake in IDACORP in the 2nd quarter worth approximately $30,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.1%

IDA stock opened at $135.65 on Monday. The business has a 50 day moving average of $145.55 and a 200 day moving average of $143.56. The firm has a market cap of $7.85 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. IDACORP, Inc. has a twelve month low of $122.30 and a twelve month high of $154.91. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. The business had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same quarter in the previous year, the firm earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, research analysts forecast that IDACORP, Inc. will post 6.38 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is 58.28%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays dropped their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Morgan Stanley decreased their target price on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BTIG Research reaffirmed a “buy” rating and set a $160.00 price objective on shares of IDACORP in a research note on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $153.86.

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.