Sei Investments Co. Has $35.86 Million Stake in IDACORP, Inc. $IDA

Sei Investments Co. trimmed its position in shares of IDACORP, Inc. (NYSE:IDA) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,818 shares of the energy company’s stock after selling 9,486 shares during the period. Sei Investments Co.’s holdings in IDACORP were worth $35,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. NewEdge Wealth LLC acquired a new position in shares of IDACORP during the 1st quarter worth about $286,000. Magellan Asset Management Ltd grew its holdings in IDACORP by 23.9% in the 1st quarter. Magellan Asset Management Ltd now owns 50,116 shares of the energy company’s stock valued at $7,165,000 after buying an additional 9,665 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in IDACORP by 6.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,087 shares of the energy company’s stock valued at $870,000 after buying an additional 368 shares during the last quarter. Parallel Advisors LLC increased its position in IDACORP by 2.8% in the 1st quarter. Parallel Advisors LLC now owns 5,824 shares of the energy company’s stock worth $833,000 after buying an additional 156 shares during the period. Finally, Swiss National Bank increased its position in IDACORP by 0.3% in the 1st quarter. Swiss National Bank now owns 106,900 shares of the energy company’s stock worth $15,283,000 after buying an additional 300 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Performance

IDA opened at $148.80 on Monday. The stock’s 50 day simple moving average is $145.27 and its 200-day simple moving average is $141.94. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock has a market cap of $8.25 billion, a PE ratio of 24.76, a P/E/G ratio of 2.96 and a beta of 0.48. IDACORP, Inc. has a 1 year low of $120.52 and a 1 year high of $154.91.

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

IDACORP Dividend Announcement

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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 5th. IDACORP’s payout ratio is 58.57%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IDA shares. Wells Fargo & Company raised IDACORP from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $121.00 to $154.00 in a research report on Tuesday, July 21st. BTIG Research reissued a “buy” rating and issued a $160.00 price target on shares of IDACORP in a report on Thursday. Morgan Stanley restated an “overweight” rating and issued a $156.00 price target on shares of IDACORP in a research report on Wednesday. Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Barclays increased their target price on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.14.

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company’s stock, valued at $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 is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

IDACORP 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.