Magellan Asset Management Ltd Invests $8.86 Million in IDACORP, Inc. $IDA

Magellan Asset Management Ltd purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 58,544 shares of the energy company’s stock, valued at approximately $8,858,000.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in IDACORP by 79.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock worth $690,000 after buying an additional 2,625 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of IDACORP by 6.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after purchasing an additional 21,890 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of IDACORP by 8.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after purchasing an additional 10,855 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of IDACORP by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after purchasing an additional 2,016 shares during the period. Finally, Invesco Ltd. lifted its stake in IDACORP by 5.7% in the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock valued at $28,538,000 after purchasing an additional 13,297 shares during the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA opened at $137.42 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a 12-month low of $122.30 and a 12-month high of $154.91. The company has a market cap of $7.95 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.37 and a beta of 0.48. The stock has a 50-day moving average price of $146.04 and a 200-day moving average price of $143.47.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. During the same quarter last year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts forecast that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 5th. IDACORP’s dividend payout ratio is presently 58.28%.

Analysts Set New Price Targets

A number of research firms have issued reports on IDA. BTIG Research reissued a “buy” rating and issued a $160.00 target price on shares of IDACORP in a research report on Thursday, July 23rd. Morgan Stanley dropped their price objective on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company lifted their target price on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Barclays dropped their price target on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and an average target price of $153.86.

Trending Headlines about IDACORP

Here are the key news stories impacting IDACORP this week:

• Positive Sentiment: Zacks raised its IDACORP EPS forecasts for Q4 2026 to $0.85 from $0.81, Q2 2027 to $2.04 from $1.92, Q3 2027 to $2.79 from $2.68, FY2027 to $6.93 from $6.91, and FY2028 to $7.66 from $7.52. The upgrades suggest expectations for improving earnings growth beyond the current year. IDACORP Zacks Research earnings estimates
• Neutral Sentiment: Zacks’ FY2026 EPS forecast is now $6.40, down slightly from $6.43 but broadly in line with the current consensus estimate of $6.39. The revisions do not materially change the company’s near-term earnings outlook. IDACORP earnings forecast update
• Negative Sentiment: Zacks cut its Q1 2028 EPS estimate to $1.16 from $1.37 and its Q2 2028 estimate to $2.03 from $2.06. These reductions point to weaker expectations for portions of 2028 and may be contributing to the cautious market reaction despite the longer-term upgrades. IDACORP future EPS estimate reductions

Insider Activity

In related news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction dated 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 directly 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 filing with the SEC, which is accessible through this link. 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.