Northwestern Mutual Wealth Management Co. Takes $996,000 Position in IDACORP, Inc. $IDA

Northwestern Mutual Wealth Management Co. bought a new stake in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, HoldingsChannel reports. The fund bought 6,580 shares of the energy company’s stock, valued at approximately $996,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IDA. Quantbot Technologies LP purchased a new position in IDACORP during the second quarter worth about $1,165,000. Evolve Private Wealth LLC acquired a new stake in IDACORP in the second quarter valued at about $383,000. Emerald Investment Advisers LLC purchased a new stake in IDACORP in the 2nd quarter valued at approximately $6,754,000. William Blair Investment Management LLC purchased a new stake in IDACORP in the 2nd quarter valued at approximately $32,297,000. Finally, Callan Family Office LLC acquired a new position in IDACORP during the 2nd quarter worth approximately $336,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Mizuho set a $157.00 price target on IDACORP in a report on Friday, May 1st. Wells Fargo & Company upped their price objective on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd. Morgan Stanley reduced their target price on IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays decreased their target price on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $153.86.

IDACORP Trading Down 0.4%

Shares of IDACORP stock opened at $137.71 on Wednesday. IDACORP, Inc. has a 12-month low of $122.30 and a 12-month high of $154.91. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The stock has a market cap of $7.96 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.48. The company has a 50-day moving average of $145.84 and a two-hundred day moving average of $143.52.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. The company had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same period last year, the firm earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, research analysts anticipate that IDACORP, Inc. will post 6.38 EPS for the current fiscal year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be issued 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 2.6%. IDACORP’s payout ratio is currently 58.28%.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction 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 sale, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.