Virtus Advisers LLC Invests $860,000 in IDACORP, Inc. $IDA

Virtus Advisers LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) during the second quarter, HoldingsChannel.com reports. The fund bought 5,686 shares of the energy company’s stock, valued at approximately $860,000.

Several other hedge funds have also bought and sold shares of IDA. Entropy Technologies LP lifted its position in shares of IDACORP by 282.7% in the first quarter. Entropy Technologies LP now owns 24,273 shares of the energy company’s stock valued at $3,470,000 after buying an additional 17,931 shares during the last quarter. Aptus Capital Advisors LLC bought a new position in shares of IDACORP during the 4th quarter worth approximately $6,366,000. GW&K Investment Management LLC increased its holdings in shares of IDACORP by 7.1% during the 4th quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company’s stock worth $90,741,000 after acquiring an additional 47,248 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of IDACORP by 8.3% during the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after acquiring an additional 113,579 shares during the last quarter. Finally, Reaves W H & Co. Inc. raised its stake in IDACORP by 6.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock valued at $228,797,000 after acquiring an additional 107,131 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IDA has been the subject of several research reports. Mizuho set a $157.00 price target on IDACORP in a report on Friday, May 1st. Wells Fargo & Company upped their price objective on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. BTIG Research reiterated a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Morgan Stanley reissued an “overweight” rating and issued a $156.00 price objective on shares of IDACORP in a research report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.57.

IDACORP Price Performance

IDACORP stock opened at $140.27 on Friday. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 23.22, a PEG ratio of 2.42 and a beta of 0.48. 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 stock’s 50 day moving average is $146.15 and its 200-day moving average is $143.42.

IDACORP (NYSE:IDA) last released its quarterly earnings results 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 analysts’ expectations 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 firm posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Equities research analysts expect that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Dividend Announcement

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

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.