RW Investment Management LLC Buys New Stake in IDACORP, Inc. $IDA

Key Points

• RW Investment Management purchased 13,382 IDACORP shares worth approximately $2.03 million, while institutional investors collectively own 89.1% of the company.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Hold ratings producing a consensus “Moderate Buy” rating and a $154.57 price target.
• IDACORP reported quarterly EPS of $1.79, slightly exceeding estimates, and announced a quarterly dividend of $0.88 per share, representing a 2.5% annualized yield.

RW Investment Management LLC purchased a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,382 shares of the energy company's stock, valued at approximately $2,025,000. IDACORP makes up about 0.2% of RW Investment Management LLC's holdings, making the stock its 18th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Entropy Technologies LP grew its position in shares of IDACORP by 282.7% during the 1st quarter. Entropy Technologies LP now owns 24,273 shares of the energy company's stock valued at $3,470,000 after acquiring an additional 17,931 shares during the period. Aptus Capital Advisors LLC purchased a new position in IDACORP during the fourth quarter worth approximately $6,366,000. Jennison Associates LLC boosted its position in IDACORP by 8.3% during the fourth quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company's stock worth $187,770,000 after purchasing an additional 113,579 shares in the last quarter. GW&K Investment Management LLC grew its holdings in IDACORP by 7.1% in 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 during the period. Finally, Life Cycle Investment Partners Ltd acquired a new stake in IDACORP in the fourth quarter valued at approximately $38,817,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

IDA has been the subject of several research analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $156.00 target price on shares of IDACORP in a research note on Wednesday, July 22nd. Weiss Ratings reissued a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. BTIG Research reissued a "buy" rating and issued a $160.00 price target on shares of IDACORP in a report on Thursday, July 23rd. Finally, Mizuho set a $157.00 price objective on shares of IDACORP in a report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $154.57.

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the business's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

IDACORP Stock Performance

NYSE IDA opened at $142.53 on Monday. The company has a market cap of $8.24 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. The stock's 50 day simple moving average is $146.09 and its 200-day simple moving average is $143.19. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91. 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 (NYSE:IDA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. The firm had revenue of $469.80 million during the quarter, compared to analysts' expectations 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 business earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities research analysts anticipate that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 5th. IDACORP's dividend payout ratio is 58.28%.

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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