Legal & General Group Plc Reduces Holdings in IDACORP, Inc. $IDA

Legal & General Group Plc trimmed its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,542 shares of the energy company’s stock after selling 17,218 shares during the period. Legal & General Group Plc owned about 0.50% of IDACORP worth $34,493,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IDA. Alps Advisors Inc. grew its stake in IDACORP by 31.8% in the 3rd quarter. Alps Advisors Inc. now owns 29,178 shares of the energy company’s stock worth $3,856,000 after acquiring an additional 7,036 shares during the period. First National Bank of Omaha purchased a new stake in IDACORP in the 3rd quarter worth approximately $6,480,000. Phocas Financial Corp. purchased a new stake in IDACORP in the 4th quarter worth approximately $7,171,000. HighTower Advisors LLC grew its stake in IDACORP by 122.2% in the 3rd quarter. HighTower Advisors LLC now owns 30,367 shares of the energy company’s stock worth $4,013,000 after acquiring an additional 16,699 shares during the period. Finally, Citigroup Inc. grew its stake in IDACORP by 102.8% in the 3rd quarter. Citigroup Inc. now owns 72,933 shares of the energy company’s stock worth $9,638,000 after acquiring an additional 36,969 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on IDA shares. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Morgan Stanley set a $147.00 target price on shares of IDACORP in a research note on Thursday, May 21st. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $121.00 target price on shares of IDACORP in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.57.

IDACORP Stock Down 0.3%

Shares of IDA opened at $140.17 on Friday. The firm has a market cap of $7.77 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 2.80 and a beta of 0.52. The company’s fifty day moving average is $143.41 and its two-hundred day moving average is $136.65. IDACORP, Inc. has a fifty-two week low of $111.12 and a fifty-two week high of $149.73. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01.

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

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, May 5th. IDACORP’s dividend payout ratio (DPR) is 58.57%.

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.