Wellington Management Group LLP Sells 403,945 Shares of IDACORP, Inc. $IDA

Key Points

• Wellington Management reduced its IDACORP stake by 14.1%, selling 403,945 shares in the second quarter and retaining 2.45 million shares worth approximately $371 million. Institutional investors collectively own 89.1% of the company.
• IDACORP reported quarterly EPS of $1.79, slightly exceeding estimates, while revenue of $469.8 million fell short of expectations. The company reaffirmed fiscal 2026 EPS guidance of $6.30–$6.45.
• IDACORP announced a quarterly dividend of $0.88 per share, equivalent to an annualized $3.52 payout and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $153.86.

Wellington Management Group LLP trimmed its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,452,290 shares of the energy company's stock after selling 403,945 shares during the quarter. Wellington Management Group LLP owned about 4.24% of IDACORP worth $371,031,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of IDA. United Capital Financial Advisors LLC bought a new position in IDACORP during the 2nd quarter worth $400,000. Public Employees Retirement System of Ohio bought a new position in shares of IDACORP in the second quarter worth $2,690,000. Capstone Investment Advisors LLC acquired a new position in IDACORP in the second quarter valued at about $1,531,000. Corient Private Wealth LP bought a new stake in IDACORP during the second quarter worth about $1,496,000. Finally, Bank of America Corp DE acquired a new stake in IDACORP during the second quarter worth about $54,985,000. Institutional investors and hedge funds own 89.10% of the company's stock.

IDACORP Price Performance

Shares of NYSE:IDA opened at $135.65 on Monday. The firm has a market cap of $7.85 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The firm's fifty day moving average is $145.55 and its 200-day moving average is $143.56. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. IDACORP, Inc. has a 52 week low of $122.30 and a 52 week high of $154.91.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same period in the prior year, the firm posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts predict that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Dividend Announcement

The company 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 dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP's dividend payout ratio is presently 58.28%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays dropped their target price on shares of IDACORP from $167.00 to $162.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Morgan Stanley reduced their price target on shares of IDACORP from $156.00 to $151.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Wells Fargo & Company lifted their price objective on shares of IDACORP from $154.00 to $155.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, IDACORP 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source