Global Retirement Partners LLC Invests $662,000 in IDACORP, Inc. $IDA

Global Retirement Partners LLC purchased a new position in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,377 shares of the energy company’s stock, valued at approximately $662,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDA. Torren Management LLC bought a new position in IDACORP during the 4th quarter valued at approximately $25,000. Western Wealth Management LLC bought a new stake in IDACORP in the first quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in shares of IDACORP in the third quarter worth $34,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of IDACORP during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.5%

IDACORP stock opened at $142.19 on Wednesday. IDACORP, Inc. has a 12 month low of $122.30 and a 12 month high of $154.91. The stock has a fifty day simple moving average of $146.20 and a two-hundred day simple moving average of $143.31. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The firm has a market cap of $8.22 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.46 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The firm had revenue of $469.80 million for the quarter, compared to the consensus estimate of $511.87 million. During the same period in the prior year, the company posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Equities analysts predict 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. Shareholders of record on Wednesday, August 5th will be given a $0.88 dividend. 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 payout ratio is 58.28%.

Insider Transactions at IDACORP

In other IDACORP 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 transaction of $211,425.00. Following the transaction, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $160.00 price target on shares of IDACORP in a research report on Thursday, July 23rd. Barclays cut their price objective on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Weiss Ratings restated 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. Finally, Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $154.57.

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.