Sanctuary Advisors LLC Takes $1.11 Million Position in IDACORP, Inc. $IDA

Sanctuary Advisors LLC purchased a new position in IDACORP, Inc. (NYSE:IDA) in the second quarter, Holdings Channel.com reports. The firm purchased 7,363 shares of the energy company’s stock, valued at approximately $1,114,000.

Several other hedge funds have also recently made changes to their positions in IDA. Torren Management LLC purchased a new stake in IDACORP in the fourth quarter worth approximately $25,000. Western Wealth Management LLC bought a new stake in IDACORP in the 1st quarter worth approximately $29,000. Trust Co. of Vermont purchased a new stake in IDACORP during the 2nd quarter valued at $30,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in IDACORP during the 2nd quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Down 0.3%

IDA opened at $137.67 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91. The company has a market capitalization of $7.96 billion, a PE ratio of 22.79, a PEG ratio of 2.38 and a beta of 0.48. The firm’s 50 day simple moving average is $145.68 and its two-hundred day simple moving average is $143.56.

IDACORP (NYSE:IDA) last issued its quarterly earnings data 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. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. During the same quarter in the previous year, the firm posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts forecast that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP’s payout ratio is 58.28%.

Analysts Set New Price Targets

IDA has been the topic of a number of research reports. Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Barclays lowered their target price on IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price target on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.86.

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.