Magellan Asset Management Ltd Acquires New Shares in IDACORP, Inc. $IDA

Key Points

• Magellan Asset Management acquired 58,544 IDACORP shares worth approximately $8.86 million, while institutional investors and hedge funds collectively own 89.1% of the company.
• IDACORP reported quarterly EPS of $1.79, narrowly beating estimates, though revenue of $469.8 million fell short of expectations. The company reaffirmed fiscal 2026 EPS guidance of $6.30–$6.45.
• The utility declared a quarterly dividend of $0.88 per share, or $3.52 annualized, representing a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $153.86.

Magellan Asset Management Ltd bought a new position in IDACORP, Inc. (NYSE:IDA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 58,544 shares of the energy company's stock, valued at approximately $8,858,000. Magellan Asset Management Ltd owned about 0.10% of IDACORP at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in IDACORP during the 2nd quarter worth approximately $33,000. Greenland Capital Management LP bought a new stake in shares of IDACORP in the second quarter worth $380,000. Commerce Bank acquired a new stake in IDACORP in the second quarter valued at $1,590,000. Northwestern Mutual Wealth Management Co. acquired a new stake in IDACORP in the second quarter valued at $996,000. Finally, Quantbot Technologies LP bought a new position in IDACORP during the 2nd quarter worth $1,165,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Price Performance

Shares of NYSE IDA opened at $137.42 on Monday. The firm has a market capitalization of $7.95 billion, a P/E ratio of 22.75, a P/E/G ratio of 2.37 and a beta of 0.48. The firm's 50-day moving average price is $146.04 and its 200-day moving average price is $143.47. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91.

IDACORP (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $469.80 million during 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 company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 2.6%. The ex-dividend date is Wednesday, August 5th. IDACORP's dividend payout ratio (DPR) is currently 58.28%.

IDACORP News Summary

Here are the key news stories impacting IDACORP this week:

• Positive Sentiment: Zacks raised its IDACORP EPS forecasts for Q4 2026 to $0.85 from $0.81, Q2 2027 to $2.04 from $1.92, Q3 2027 to $2.79 from $2.68, FY2027 to $6.93 from $6.91, and FY2028 to $7.66 from $7.52. The upgrades suggest expectations for improving earnings growth beyond the current year. IDACORP Zacks Research earnings estimates
• Neutral Sentiment: Zacks’ FY2026 EPS forecast is now $6.40, down slightly from $6.43 but broadly in line with the current consensus estimate of $6.39. The revisions do not materially change the company’s near-term earnings outlook. IDACORP earnings forecast update
• Negative Sentiment: Zacks cut its Q1 2028 EPS estimate to $1.16 from $1.37 and its Q2 2028 estimate to $2.03 from $2.06. These reductions point to weaker expectations for portions of 2028 and may be contributing to the cautious market reaction despite the longer-term upgrades. IDACORP future EPS estimate reductions

Insider Transactions at IDACORP

In other IDACORP 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 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Mizuho set a $157.00 price target on IDACORP in a research report on Friday, May 1st. Weiss Ratings reissued a "buy (b)" rating on shares of IDACORP in a research report on Monday, August 3rd. Barclays dropped their price target on shares of IDACORP from $167.00 to $162.00 and set an "overweight" rating on the stock in a research report on Monday, August 3rd. Morgan Stanley decreased their price target on IDACORP from $156.00 to $151.00 and set an "overweight" rating for the company in a report on Friday. Finally, Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $153.86.

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.

Want to see what other hedge funds are holding IDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDACORP, Inc. (NYSE:IDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.