The Manufacturers Life Insurance Company Makes New Investment in IDACORP, Inc. $IDA

The Manufacturers Life Insurance Company purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,131 shares of the energy company’s stock, valued at approximately $6,526,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in IDACORP by 79.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. increased its position in IDACORP by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after buying an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in IDACORP by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after buying an additional 10,855 shares during the period. American Century Companies Inc. lifted its holdings in shares of IDACORP by 12.6% during the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after buying an additional 2,016 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of IDACORP by 5.7% in the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock valued at $28,538,000 after acquiring an additional 13,297 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

IDA opened at $135.65 on Monday. The company has a fifty day moving average price of $145.55 and a two-hundred day moving average price of $143.56. The firm has a market capitalization of $7.85 billion, a PE ratio of 22.46, a P/E/G ratio of 2.34 and a beta of 0.48. IDACORP, Inc. has a 52 week low of $122.30 and a 52 week high of $154.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The business had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. During the same period last year, the company earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, analysts anticipate that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend payout ratio is presently 58.28%.

Analyst Upgrades and Downgrades

A number of research firms have commented on IDA. Wall Street Zen lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Barclays decreased their price objective on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Morgan Stanley lowered their price objective on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. Finally, BTIG Research reiterated a “buy” rating and set a $160.00 target price on shares of IDACORP in a research report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, IDACORP has an average rating of “Moderate Buy” and a consensus target price of $153.86.

About IDACORP

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.