Ceredex Value Advisors LLC Purchases Shares of 90,675 IDACORP, Inc. $IDA

Key Points

• Ceredex Value Advisors purchased 90,675 IDACORP shares valued at approximately $13.7 million, while institutional investors collectively own 89.1% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $154.57.
• IDACORP reported quarterly EPS of $1.79, slightly above estimates, and declared a quarterly dividend of $0.88, equivalent to an annualized $3.52 payout and a 2.5% yield.

Ceredex Value Advisors LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,675 shares of the energy company's stock, valued at approximately $13,719,000. Ceredex Value Advisors LLC owned about 0.16% of IDACORP at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Torren Management LLC purchased a new stake in IDACORP in the 4th quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new position in IDACORP during the first quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company's stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Trust Co. of Vermont acquired a new position in shares of IDACORP in the second quarter worth $30,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of IDACORP in the third quarter valued at $34,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business's stock in a transaction on Friday, May 29th. The shares were 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 of the company's stock, valued at $301,351.10. The trade was a 41.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IDA has been the subject of a number of recent research reports. Mizuho set a $157.00 price objective on IDACORP in a research report on Friday, May 1st. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. Wells Fargo & Company lifted their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. BTIG Research reissued a "buy" rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday, July 23rd. Finally, Barclays reduced their price objective on shares of IDACORP from $167.00 to $162.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $154.57.

IDACORP Trading Down 0.3%

NYSE IDA opened at $140.27 on Friday. The company has a market cap of $8.11 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.42 and a beta of 0.48. IDACORP, Inc. has a 12 month low of $122.30 and a 12 month high of $154.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. The company has a 50-day moving average of $146.15 and a 200-day moving average of $143.42.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The business had revenue of $469.80 million for the quarter, compared to analysts' expectations of $511.87 million. During the same period last year, the company earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 5th. IDACORP's dividend payout ratio (DPR) is 58.28%.

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.

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