Legal & General Group Plc Takes Position in IDACORP, Inc. $IDA

Legal & General Group Plc bought a new stake in IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 269,162 shares of the energy company’s stock, valued at approximately $40,724,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Torren Management LLC purchased a new stake in IDACORP in the fourth quarter valued at $25,000. Western Wealth Management LLC acquired a new position in IDACORP in the first quarter valued at $29,000. Trust Co. of Vermont purchased a new position in shares of IDACORP during the second quarter worth about $30,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of IDACORP during the second quarter worth about $33,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after purchasing an additional 189 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IDA has been the subject of several research reports. Wells Fargo & Company boosted their target price on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Morgan Stanley cut their price target on IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Finally, Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $153.86.

IDACORP Price Performance

Shares of NYSE IDA opened at $135.65 on Friday. The stock has a fifty day moving average price of $145.55 and a 200 day moving average price of $143.50. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. The company has a market cap of $7.85 billion, a PE ratio of 22.46, a P/E/G ratio of 2.38 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The company 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 period in the previous year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts forecast that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 5th. IDACORP’s payout ratio is 58.28%.

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.