Engineers Gate Manager LP Sells 20,226 Shares of IDACORP, Inc. $IDA

Key Points

• Engineers Gate Manager LP cut its IDACORP stake by 63.3% in the second quarter, selling 20,226 shares and retaining 11,746 shares worth approximately $1.78 million.
• IDACORP reported quarterly EPS of $1.79, narrowly exceeding estimates, while revenue of $469.8 million fell short of analyst expectations. The company reaffirmed fiscal 2026 EPS guidance of $6.30–$6.45.
• The utility pays a quarterly dividend of $0.88, equivalent to a 2.7% yield, and analysts maintain a “Moderate Buy” consensus with an average price target of $153.86 versus the stock’s $132.65 opening price.

Engineers Gate Manager LP decreased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 63.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,746 shares of the energy company's stock after selling 20,226 shares during the period. Engineers Gate Manager LP's holdings in IDACORP were worth $1,777,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of IDACORP during the second quarter worth $1,033,914,000. Reaves W H & Co. Inc. increased its holdings in IDACORP by 6.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company's stock worth $228,797,000 after purchasing an additional 107,131 shares in the last quarter. Jennison Associates LLC raised its position in IDACORP by 0.9% in the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company's stock valued at $214,075,000 after purchasing an additional 13,694 shares during the last quarter. Geode Capital Management LLC raised its position in IDACORP by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,102,727 shares of the energy company's stock valued at $139,601,000 after purchasing an additional 54,934 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of IDACORP by 7.1% during the fourth quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company's stock valued at $90,741,000 after purchasing an additional 47,248 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Trading Down 0.0%

NYSE IDA opened at $132.65 on Thursday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.29 and a beta of 0.47. The business has a 50 day simple moving average of $141.74 and a 200 day simple moving average of $143.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. IDACORP, Inc. has a one year low of $124.12 and a one year high of $154.91.

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

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were paid a $0.88 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.7%. IDACORP's dividend payout ratio (DPR) is currently 58.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IDA shares. BTIG Research reiterated a "buy" rating and issued a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Barclays reduced their target price on shares of IDACORP from $167.00 to $162.00 and set an "overweight" rating on the stock in a report on Monday, August 3rd. Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research report on Sunday, September 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. Finally, 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. Six investment 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $153.86.

IDACORP Profile

IDACORP, Inc is a holding company headquartered in Boise, Idaho. Through its principal subsidiary, Idaho Power Company, it operates as a regulated electric utility serving customers across southern Idaho and eastern Oregon.

Idaho Power's activities include the generation, transmission, distribution and sale of electricity to residential, commercial, industrial and agricultural customers. The company operates a diverse generation portfolio that includes hydroelectric, natural gas, coal and renewable energy resources, supported by transmission and distribution infrastructure.

Idaho Power was established in 1916 and has played a longstanding role in developing and supplying electricity throughout its service territory.

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