Perigon Wealth Management LLC Invests $818,000 in IDACORP, Inc. $IDA

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

Several other hedge funds have also recently added to or reduced their stakes in IDA. AssuredPartners Investment Advisors LLC boosted its position in IDACORP by 5.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock worth $209,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. increased its holdings in shares of IDACORP by 48.0% during the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock valued at $38,000 after purchasing an additional 98 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of IDACORP by 1.6% during the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company’s stock valued at $927,000 after purchasing an additional 103 shares during the period. Quadrant Capital Group LLC raised its stake in shares of IDACORP by 1.9% during the third quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock valued at $758,000 after purchasing an additional 106 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of IDACORP by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Analyst Ratings Changes

IDA has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $156.00 target price on shares of IDACORP in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. 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 price objective on shares of IDACORP in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, IDACORP has an average rating of “Moderate Buy” and an average target price of $154.57.

IDACORP Price Performance

NYSE IDA opened at $142.19 on Wednesday. IDACORP, Inc. has a 1 year low of $122.30 and a 1 year high of $154.91. The business’s fifty day moving average is $146.20 and its two-hundred day moving average is $143.31. The stock has a market capitalization of $8.22 billion, a P/E ratio of 23.54, a P/E/G ratio of 2.46 and a beta of 0.48. 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 (NYSE:IDA) last released its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The business had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same period last year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, research analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

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

Insiders Place Their Bets

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP 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 trade represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

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.