GW&K Investment Management LLC Has $90.74 Million Position in IDACORP, Inc. $IDA

Key Points

• GW&K Investment Management increased its stake in IDACORP by 7.1% in the fourth quarter, bringing its holdings to 716,975 shares worth about $90.74 million. The position now represents 1.33% of the company and is GW&K’s 18th largest holding.
• Institutional interest remains strong, with hedge funds and large investors owning 89.10% of IDACORP’s stock. Several firms recently added to or initiated positions, including Orion Portfolio Solutions, Zimmer Partners, Capital Research Global Investors, and Invesco.
• IDACORP reported earnings per share of $1.21 for the latest quarter, beating analyst estimates, and recently paid a quarterly dividend of $0.88 per share. Analysts currently rate the stock a consensus “Moderate Buy” with a target price of $148.57.

GW&K Investment Management LLC raised its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 716,975 shares of the energy company's stock after acquiring an additional 47,248 shares during the quarter. IDACORP makes up about 0.8% of GW&K Investment Management LLC's investment portfolio, making the stock its 18th largest holding. GW&K Investment Management LLC owned 1.33% of IDACORP worth $90,741,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in IDA. Orion Porfolio Solutions LLC lifted its stake in IDACORP by 3,215.7% in the second quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company's stock valued at $69,784,000 after acquiring an additional 586,221 shares during the last quarter. Zimmer Partners LP acquired a new stake in IDACORP in the third quarter valued at $71,031,000. Capital Research Global Investors acquired a new stake in IDACORP in the fourth quarter valued at $44,511,000. Invesco Ltd. lifted its stake in IDACORP by 139.4% in the third quarter. Invesco Ltd. now owns 591,812 shares of the energy company's stock valued at $78,208,000 after acquiring an additional 344,622 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in IDACORP in the fourth quarter valued at $38,817,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on IDA shares. Weiss Ratings upgraded shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded IDACORP from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 12th. Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Wells Fargo & Company restated an "underweight" rating and issued a $121.00 price target on shares of IDACORP in a research note on Tuesday, April 21st. Finally, UBS Group increased their price target on IDACORP from $134.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, IDACORP currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.57.

IDACORP Price Performance

Shares of IDACORP stock opened at $140.15 on Wednesday. IDACORP, Inc. has a twelve month low of $111.12 and a twelve month high of $149.73. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The company has a 50-day simple moving average of $143.37 and a two-hundred day simple moving average of $137.19. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 2.75 and a beta of 0.49.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The business had revenue of $403.41 million during the quarter, compared to analysts' expectations of $437.51 million. During the same quarter in the previous year, the company earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th were given a $0.88 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP's payout ratio is presently 58.57%.

Insider Activity at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.

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