Ceredex Value Advisors LLC Cuts Stake in IDACORP, Inc. $IDA

Ceredex Value Advisors LLC reduced its position in shares of IDACORP, Inc. (NYSE:IDA) by 13.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 146,300 shares of the energy company’s stock after selling 23,600 shares during the period. Ceredex Value Advisors LLC’s holdings in IDACORP were worth $19,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IDA. Orion Porfolio Solutions LLC raised 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 purchasing an additional 586,221 shares during the last quarter. Soros Fund Management LLC acquired a new stake in shares of IDACORP in the second quarter valued at about $46,919,000. BROOKFIELD Corp ON acquired a new position in IDACORP during the second quarter worth about $33,920,000. Adage Capital Partners GP L.L.C. purchased a new stake in IDACORP during the 2nd quarter valued at about $29,728,000. Finally, Anchor Capital Advisors LLC lifted its stake in IDACORP by 150.6% in 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 in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on IDA shares. Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. Morgan Stanley set a $155.00 price target on shares of IDACORP in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. Mizuho increased their price objective on IDACORP from $141.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Jefferies Financial Group reduced their target price on IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $143.00.

Insider Activity at IDACORP

In related news, VP Julia A. Hilton sold 1,000 shares of the 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 transaction, the vice president owned 2,313 shares of the company’s stock, valued at $330,273.27. This represents a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.47% of the company’s stock.

IDACORP Stock Performance

NYSE:IDA opened at $142.50 on Tuesday. The company has a fifty day simple moving average of $135.66 and a two-hundred day simple moving average of $131.34. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 52 week low of $108.15 and a 52 week high of $145.94. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.77 and a beta of 0.58.

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

IDACORP Announces Dividend

The company also recently disclosed 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 2.5%. The ex-dividend date of this dividend was Thursday, February 5th. IDACORP’s payout ratio is 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.