IDACORP, Inc. $IDA Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in IDACORP, Inc. (NYSE:IDA) by 5.9% during the fourth quarter, Holdings Channel reports. The firm owned 272,542 shares of the energy company’s stock after selling 17,218 shares during the period. Legal & General Group Plc’s holdings in IDACORP were worth $34,493,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its holdings in shares of IDACORP by 2.0% during the 4th quarter. Hantz Financial Services Inc. now owns 8,356 shares of the energy company’s stock valued at $1,058,000 after acquiring an additional 160 shares in the last quarter. Beck Bode LLC lifted its holdings in shares of IDACORP by 0.5% during the 4th quarter. Beck Bode LLC now owns 160,150 shares of the energy company’s stock valued at $20,269,000 after acquiring an additional 777 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of IDACORP by 21.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,585 shares of the energy company’s stock valued at $580,000 after acquiring an additional 808 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of IDACORP during the 4th quarter valued at $38,817,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of IDACORP during the 4th quarter valued at $1,792,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IDA. Mizuho set a $157.00 target price on shares of IDACORP in a report on Friday, May 1st. Barclays lifted their target price on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. UBS Group lifted their target price on shares of IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Wells Fargo & Company restated an “underweight” rating and set a $121.00 target price on shares of IDACORP in a report on Tuesday, April 21st. Finally, Morgan Stanley set a $147.00 price objective on shares of IDACORP in a report on Thursday, May 21st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and an average price target of $148.57.

IDACORP Stock Performance

Shares of IDA stock opened at $140.17 on Friday. IDACORP, Inc. has a 12 month low of $111.12 and a 12 month high of $149.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The firm has a market capitalization of $7.77 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.80 and a beta of 0.52. The company’s fifty day moving average price is $143.41 and its two-hundred day moving average price is $136.65.

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

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s payout ratio is presently 58.57%.

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.