17,780 Shares in IDACORP, Inc. $IDA Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the second quarter, Holdings Channel reports. The fund bought 17,780 shares of the energy company’s stock, valued at approximately $2,690,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of IDACORP in the second quarter worth $1,033,914,000. Morgan Stanley raised its position in IDACORP by 9.9% during the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after purchasing an additional 188,845 shares during the last quarter. State Street Corp raised its position in IDACORP by 0.6% during the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after purchasing an additional 11,403 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in IDACORP by 6.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after buying an additional 107,131 shares during the period. Finally, Jennison Associates LLC lifted its holdings in IDACORP by 0.9% during the 1st quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock worth $214,075,000 after buying an additional 13,694 shares during the period. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IDA. Barclays decreased their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Monday, August 3rd. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday. Wells Fargo & Company raised their price target on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Morgan Stanley dropped their price target on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $153.86.

IDACORP Stock Down 0.4%

Shares of NYSE IDA opened at $135.62 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The firm has a market cap of $7.84 billion, a PE ratio of 22.45, a P/E/G ratio of 2.34 and a beta of 0.47. The company’s fifty day simple moving average is $144.41 and its 200 day simple moving average is $143.39. IDACORP, Inc. has a 12-month low of $122.30 and a 12-month high of $154.91.

IDACORP (NYSE:IDA) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $511.87 million. During the same period in the previous year, the firm posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 5th. IDACORP’s payout ratio 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.