California Public Employees Retirement System Sells 36,505 Shares of IDACORP, Inc. $IDA

California Public Employees Retirement System trimmed its holdings in IDACORP, Inc. (NYSE:IDA) by 25.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,473 shares of the energy company’s stock after selling 36,505 shares during the quarter. California Public Employees Retirement System’s holdings in IDACORP were worth $15,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new position in IDACORP in the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its holdings 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 period. Measured Wealth Private Client Group LLC purchased a new stake in shares of IDACORP during the 3rd quarter valued at about $34,000. Los Angeles Capital Management LLC purchased a new position in shares of IDACORP during the 4th quarter worth $35,000. Finally, Smartleaf Asset Management LLC increased its position in IDACORP by 62.0% in the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA opened at $149.44 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market cap of $8.28 billion, a PE ratio of 24.87, a P/E/G ratio of 2.96 and a beta of 0.48. The stock has a fifty day moving average price of $145.09 and a 200-day moving average price of $141.78. IDACORP, Inc. has a 12 month low of $120.52 and a 12 month high of $154.91.

IDACORP (NYSE:IDA) last announced its quarterly earnings data 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. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The firm had revenue of $403.41 million for the quarter, compared to analyst estimates of $437.51 million. During the same period in the previous year, the company earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities research analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company 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 dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IDA. BTIG Research reissued a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a research note on Thursday. Mizuho set a $157.00 target price on shares of IDACORP in a report on Friday, May 1st. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised shares of IDACORP from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $121.00 to $154.00 in a research note on Tuesday. Finally, Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.14.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction on 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 directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate 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.