IDACORP, Inc. $IDA Shares Acquired by Jennison Associates LLC

Key Points

• Jennison Associates LLC increased its stake in IDACORP by 0.9% in the first quarter, holding 1,497,342 shares worth about $214.1 million, or roughly 2.7% of the company.
• IDACORP reported better-than-expected earnings for the latest quarter, posting $1.21 EPS versus the $1.12 consensus, though revenue came in below estimates at $403.41 million.
• The company declared a quarterly dividend of $0.88 per share, payable August 31, representing a 2.4% yield and an annualized payout of $3.52 per share.

Jennison Associates LLC grew its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,497,342 shares of the energy company's stock after acquiring an additional 13,694 shares during the period. Jennison Associates LLC owned about 2.70% of IDACORP worth $214,075,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. AssuredPartners Investment Advisors LLC raised its position in IDACORP by 5.1% in the fourth quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company's stock valued at $209,000 after purchasing an additional 80 shares during the period. Harbour Investments Inc. boosted its position in shares of IDACORP by 48.0% during the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company's stock worth $38,000 after buying an additional 98 shares during the period. Sanctuary Advisors LLC grew its stake in shares of IDACORP by 1.6% in the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company's stock valued at $927,000 after buying an additional 103 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of IDACORP by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company's stock valued at $758,000 after buying an additional 106 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of IDACORP by 0.9% in the 4th quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company's stock valued at $1,477,000 after buying an additional 106 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $148.80 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. IDACORP, Inc. has a fifty-two week low of $119.42 and a fifty-two week high of $154.91. The firm has a market capitalization of $8.25 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The stock's 50-day simple moving average is $144.74 and its 200-day simple moving average is $141.10.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same period in the prior year, the company posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities research analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. IDACORP's dividend payout ratio is presently 58.57%.

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction 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 transaction, the vice president directly owned 2,138 shares of the company's stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings raised IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Mizuho set a $157.00 price target on shares of IDACORP in a research report on Friday, May 1st. Morgan Stanley reissued an "overweight" rating and issued a $152.00 price objective on shares of IDACORP in a research note on Wednesday, June 24th. Barclays lifted their price objective on shares of IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and set a $121.00 target price on shares of IDACORP in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IDACORP presently has an average rating of "Moderate Buy" and an average target price of $149.29.

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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