Principal Financial Group Inc. Cuts Stake in IDACORP, Inc. $IDA

Principal Financial Group Inc. lowered its position in shares of IDACORP, Inc. (NYSE:IDA) by 2.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 474,407 shares of the energy company’s stock after selling 12,224 shares during the quarter. Principal Financial Group Inc.’s holdings in IDACORP were worth $60,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alps Advisors Inc. lifted its stake in IDACORP by 31.8% in the 3rd quarter. Alps Advisors Inc. now owns 29,178 shares of the energy company’s stock worth $3,856,000 after purchasing an additional 7,036 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of IDACORP in the third quarter valued at approximately $21,486,000. SG Americas Securities LLC increased its holdings in shares of IDACORP by 418.2% in the third quarter. SG Americas Securities LLC now owns 37,846 shares of the energy company’s stock valued at $5,001,000 after purchasing an additional 30,543 shares during the last quarter. Phocas Financial Corp. purchased a new position in IDACORP during the fourth quarter worth approximately $7,171,000. Finally, HighTower Advisors LLC lifted its position in IDACORP by 122.2% during the third quarter. HighTower Advisors LLC now owns 30,367 shares of the energy company’s stock worth $4,013,000 after buying an additional 16,699 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $143.02 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. The firm has a market cap of $7.92 billion, a P/E ratio of 23.80, a P/E/G ratio of 2.87 and a beta of 0.52. The firm’s 50 day moving average price is $143.47 and its 200-day moving average price is $135.60. IDACORP, Inc. has a one year low of $108.15 and a one year high of $149.73.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm 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 last year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities research analysts predict that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Dividend Announcement

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

Analyst Ratings Changes

IDA has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Wells Fargo & Company reiterated an “underweight” rating and set a $121.00 price target on shares of IDACORP in a report on Tuesday, April 21st. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. Wall Street Zen lowered shares of IDACORP from a “sell” rating to a “strong sell” rating in a report on Monday. Finally, Mizuho set a $157.00 price objective on shares of IDACORP in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.00.

Insider Buying and Selling at IDACORP

In related news, VP Julia A. Hilton sold 1,000 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the completion of the transaction, the vice president directly owned 2,313 shares of the company’s stock, valued at $330,273.27. The trade was a 30.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.