Principal Financial Group Inc. Has $65.87 Million Stock Holdings in IDACORP, Inc. $IDA

Principal Financial Group Inc. trimmed its position in IDACORP, Inc. (NYSE:IDA) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 460,740 shares of the energy company’s stock after selling 13,667 shares during the quarter. Principal Financial Group Inc.’s holdings in IDACORP were worth $65,874,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in shares of IDACORP in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of IDACORP by 630.0% during the 3rd 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 during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in IDACORP in the third quarter valued at about $34,000. Los Angeles Capital Management LLC acquired a new stake in IDACORP in the fourth quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC grew its position in IDACORP by 62.0% in the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after acquiring an additional 119 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IDA shares. Mizuho set a $157.00 price objective on shares of IDACORP in a research report on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $152.00 target price on shares of IDACORP in a research note on Wednesday, June 24th. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Finally, Barclays upped their target price on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.29.

Insider Buying and Selling

In related news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s 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 sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

IDACORP Price Performance

IDA stock opened at $151.04 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.98 and a beta of 0.48. The company’s fifty day simple moving average is $144.65 and its 200 day simple moving average is $141.04. IDACORP, Inc. has a 12-month low of $117.86 and a 12-month high of $154.91.

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

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.3%. IDACORP’s dividend payout ratio (DPR) is currently 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.