GW&K Investment Management LLC Lowers Stock Holdings in IDACORP, Inc. $IDA

GW&K Investment Management LLC cut its holdings in IDACORP, Inc. (NYSE:IDA) by 3.8% in the third quarter, Holdings Channel reports. The institutional investor owned 669,727 shares of the energy company’s stock after selling 26,418 shares during the quarter. IDACORP accounts for 0.8% of GW&K Investment Management LLC’s holdings, making the stock its 21st largest holding. GW&K Investment Management LLC’s holdings in IDACORP were worth $88,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IDA. Orion Porfolio Solutions LLC grew its stake in IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after acquiring an additional 586,221 shares during the period. Soros Fund Management LLC purchased a new position in IDACORP during the second quarter valued at $46,919,000. BROOKFIELD Corp ON acquired a new stake in shares of IDACORP in the second quarter valued at about $33,920,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of IDACORP during the second quarter worth about $29,728,000. Finally, Anchor Capital Advisors LLC raised its position in shares of IDACORP by 150.6% during the 3rd quarter. Anchor Capital Advisors LLC now owns 423,402 shares of the energy company’s stock worth $55,953,000 after purchasing an additional 254,421 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Insider Activity at IDACORP

In other IDACORP news, VP Julia A. Hilton sold 1,000 shares of IDACORP stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total value of $142,790.00. Following the sale, the vice president owned 2,313 shares in the company, valued at $330,273.27. The trade was a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IDA. Mizuho lifted their price objective on IDACORP from $141.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Wells Fargo & Company downgraded IDACORP from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. Jefferies Financial Group dropped their price target on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. UBS Group increased their price objective on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a research note on Sunday, February 22nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.00.

IDACORP Stock Performance

Shares of IDACORP stock opened at $144.35 on Thursday. The business’s 50 day moving average price is $134.75 and its 200 day moving average price is $130.96. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.80 and a beta of 0.58. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 0.93. IDACORP, Inc. has a one year low of $108.15 and a one year high of $145.94.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. The firm had revenue of $405.24 million during the quarter, compared to analyst estimates of $533.06 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, research analysts predict that IDACORP, Inc. will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Thursday, February 5th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, February 5th. IDACORP’s payout ratio is presently 59.66%.

IDACORP Company 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.