Jennison Associates LLC Boosts Stake in IDACORP, Inc. $IDA

Jennison Associates LLC lifted its position in IDACORP, Inc. (NYSE:IDA) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,497,342 shares of the energy company’s stock after purchasing an additional 13,694 shares during the quarter. Jennison Associates LLC’s holdings in IDACORP were worth $214,075,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in IDACORP by 4,427.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 77,378 shares of the energy company’s stock worth $11,128,000 after buying an additional 75,669 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of IDACORP in the first quarter valued at approximately $204,000. D.A. Davidson & CO. grew its position in shares of IDACORP by 9.9% during the first quarter. D.A. Davidson & CO. now owns 5,661 shares of the energy company’s stock worth $809,000 after acquiring an additional 510 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of IDACORP by 1.6% during the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company’s stock worth $927,000 after acquiring an additional 103 shares during the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of IDACORP by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 13,020 shares of the energy company’s stock valued at $1,861,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $148.80 on Friday. The stock has a fifty day moving average price of $144.74 and a 200 day moving average price of $141.10. IDACORP, Inc. has a 1-year low of $119.42 and a 1-year high of $154.91. 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 company has a market cap of $8.25 billion, a PE ratio of 24.76, a P/E/G ratio of 2.96 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same period in the previous year, the company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Sell-side analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Dividend Announcement

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 2.4%. The ex-dividend date is Wednesday, August 5th. IDACORP’s payout ratio is 58.57%.

Insider Transactions at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This 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 this link. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IDA. Wells Fargo & Company reiterated an “underweight” rating and set a $121.00 price target on shares of IDACORP in a research note on Tuesday, April 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $152.00 target price on shares of IDACORP in a report on Wednesday, June 24th. Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

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.