Seven Grand Managers LLC Cuts Position in IDACORP, Inc. $IDA

Seven Grand Managers LLC lessened its holdings in IDACORP, Inc. (NYSE:IDA) by 50.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,000 shares of the energy company’s stock after selling 20,000 shares during the quarter. Seven Grand Managers LLC’s holdings in IDACORP were worth $2,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Torren Management LLC purchased a new position in shares of IDACORP in the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after buying an additional 189 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of IDACORP in the 3rd quarter worth approximately $34,000. Smartleaf Asset Management LLC boosted its stake in shares of IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after buying an additional 119 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of IDACORP by 48.0% in the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Up 0.8%

NYSE:IDA opened at $143.73 on Thursday. 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 stock has a market capitalization of $7.96 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. The firm’s 50 day moving average is $143.44 and its 200 day moving average is $136.55. IDACORP, Inc. has a 12 month low of $111.12 and a 12 month high of $149.73.

IDACORP (NYSE:IDA) last posted 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 net margin of 18.60% and a return on equity of 9.40%. The company had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. During the same quarter in the previous year, the firm posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Sell-side analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s payout ratio is presently 58.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on IDA shares. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Mizuho set a $157.00 target price on IDACORP in a research note on Friday, May 1st. Wells Fargo & Company restated an “underweight” rating and issued a $121.00 target price on shares of IDACORP in a research note on Tuesday, April 21st. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $147.00 price target on shares of IDACORP in a report on Thursday, May 21st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, IDACORP has a consensus rating of “Moderate Buy” and a consensus price target of $148.57.

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.