Perigon Wealth Management LLC Makes New Investment in IDACORP, Inc. $IDA

Perigon Wealth Management LLC bought a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,409 shares of the energy company’s stock, valued at approximately $818,000.

A number of other hedge funds also recently modified their holdings of IDA. Phillips Wealth Planners LLC purchased a new position in shares of IDACORP during the second quarter valued at $355,000. Trust Co. of Vermont acquired a new position in IDACORP during the second quarter valued at $30,000. OneDigital Investment Advisors LLC purchased a new stake in IDACORP in the 2nd quarter worth about $380,000. RW Investment Management LLC purchased a new stake in IDACORP in the 2nd quarter worth about $2,025,000. Finally, Briggs Wealth Management Inc purchased a new stake in IDACORP in the 2nd quarter worth about $373,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

NYSE IDA opened at $142.19 on Wednesday. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The stock’s 50-day moving average is $146.20 and its two-hundred day moving average is $143.31. The firm has a market cap of $8.22 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. 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) last released its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same quarter in the prior year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on IDA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. BTIG Research reiterated a “buy” rating and issued a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Morgan Stanley reissued an “overweight” rating and issued a $156.00 price target on shares of IDACORP in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.57.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the transaction, the vice president owned 2,138 shares in the company, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is owned by insiders.

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.