Lord Abbett & CO. LLC Reduces Position in IDACORP, Inc. $IDA

Lord Abbett & CO. LLC lessened its stake in shares of IDACORP, Inc. (NYSE:IDA) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 695,722 shares of the energy company’s stock after selling 27,432 shares during the quarter. Lord Abbett & CO. LLC owned approximately 1.29% of IDACORP worth $88,051,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Torren Management LLC purchased a new stake in shares of IDACORP during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of IDACORP during the third quarter valued at approximately $34,000. Los Angeles Capital Management LLC purchased a new stake in shares of IDACORP during the fourth quarter valued at approximately $35,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of IDACORP by 62.0% during the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $142.96 on Friday. The stock has a fifty day moving average of $143.31 and a 200 day moving average of $137.43. IDACORP, Inc. has a 52 week low of $111.12 and a 52 week high of $149.73. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 2.82 and a beta of 0.49. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The company had revenue of $403.41 million during the quarter, compared to analyst estimates of $437.51 million. During the same quarter last year, the firm posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, research analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company reissued an “underweight” rating and set a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. UBS Group increased their price objective on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Finally, Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, IDACORP currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.57.

Insider Buying and Selling

In related news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the sale, the vice president 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by insiders.

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.