California State Teachers Retirement System Boosts Holdings in IDACORP, Inc. $IDA

Key Points

• California State Teachers Retirement System increased its IDACORP stake by 32.3% in the first quarter, holding 67,794 shares worth approximately $9.7 million. Institutional investors and hedge funds collectively own 89.1% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Hold ratings. IDACORP has an average target price of $154.57, compared with the stock’s recent price of $143.91.
• IDACORP slightly beat quarterly EPS estimates with $1.79 per share, while revenue fell short of expectations at $469.8 million. The company also declared a quarterly dividend of $0.88 per share, implying a 2.4% annualized yield.

California State Teachers Retirement System lifted its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,794 shares of the energy company's stock after acquiring an additional 16,536 shares during the period. California State Teachers Retirement System owned 0.12% of IDACORP worth $9,693,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Torren Management LLC acquired a new position in shares of IDACORP in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company's stock worth $29,000 after buying an additional 189 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of IDACORP in the 3rd quarter worth $34,000. Los Angeles Capital Management LLC purchased a new position in shares of IDACORP in the 4th quarter worth $35,000. Finally, Smartleaf Asset Management LLC boosted its holdings in IDACORP by 62.0% in the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company's stock valued at $36,000 after acquiring an additional 119 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IDA shares. BTIG Research reiterated a "buy" rating and set a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price target on shares of IDACORP from $154.00 to $155.00 and gave the company an "equal weight" rating in a research report on Friday. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Sunday. 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 and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $154.57.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

IDACORP Stock Up 0.7%

NYSE IDA opened at $143.91 on Tuesday. The stock has a market cap of $7.97 billion, a PE ratio of 23.83, a P/E/G ratio of 2.46 and a beta of 0.48. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The business has a 50 day moving average price of $145.68 and a two-hundred day moving average price of $142.65. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97.

IDACORP (NYSE:IDA - Get Free Report) last posted 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. The company had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter last year, the firm posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, sell-side analysts predict that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP's dividend payout ratio is presently 58.28%.

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.

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