IDACORP, Inc. $IDA Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,079 shares of the energy company's stock after selling 3,715 shares during the period. California State Teachers Retirement System owned 0.11% of IDACORP worth $9,695,153 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of IDACORP during the 2nd quarter worth about $1,033,914,000. Bank of New York Mellon Corp bought a new position in shares of IDACORP in the second quarter worth $72,143,000. Energy Income Partners LLC bought a new position in IDACORP during the 2nd quarter worth approximately $60,618,000. Bank of America Corp DE purchased a new position in IDACORP during the second quarter valued at $54,985,000. Finally, Capital Research Global Investors purchased a new stake in shares of IDACORP during the 4th quarter valued at about $44,511,000. 89.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on IDA. BTIG Research reaffirmed a "buy" rating and set a $160.00 target price on shares of IDACORP in a research report on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. Morgan Stanley decreased their price objective on shares of IDACORP from $156.00 to $151.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. Wells Fargo & Company boosted their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a report on Sunday, September 6th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $153.86.

IDACORP Trading Down 0.9%

Shares of IDA stock traded down $1.22 during trading hours on Tuesday, reaching $132.72. The company's stock had a trading volume of 147,585 shares, compared to its average volume of 511,410. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $7.68 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.34 and a beta of 0.47. IDACORP, Inc. has a one year low of $124.12 and a one year high of $154.91. The firm's fifty day simple moving average is $142.45 and its 200 day simple moving average is $143.14.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.34% and a net margin of 18.78%.The business had revenue of $469.80 million for the quarter, compared to analysts' expectations of $511.87 million. During the same period in the prior year, the firm earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Equities research analysts expect that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. IDACORP's dividend payout ratio is currently 58.28%.

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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