Louisiana State Employees Retirement System Takes $2.25 Million Position in IDACORP, Inc. $IDA

Louisiana State Employees Retirement System bought a new position in IDACORP, Inc. (NYSE:IDA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,700 shares of the energy company’s stock, valued at approximately $2,245,000.

Other hedge funds have also made changes to their positions in the company. Torren Management LLC bought a new position in IDACORP during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after buying an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of IDACORP in the third quarter valued at approximately $34,000. Los Angeles Capital Management LLC bought a new position in shares of IDACORP in the fourth quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analyst Ratings Changes

IDA has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $152.00 price objective on shares of IDACORP in a research report on Wednesday, June 24th. Barclays lifted their price target on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $121.00 target price on shares of IDACORP in a research note on Tuesday, April 21st. Finally, Mizuho set a $157.00 price target on shares of IDACORP in a research note on Friday, May 1st. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.29.

IDACORP Trading Down 0.7%

Shares of IDA opened at $151.81 on Tuesday. The stock’s fifty day simple moving average is $143.21 and its 200-day simple moving average is $138.80. The firm has a market capitalization of $8.41 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 3.05 and a beta of 0.49. IDACORP, Inc. has a 12-month low of $113.82 and a 12-month high of $153.28. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01.

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

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Insider Activity at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the transaction, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

IDACORP Company Profile

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.