179,233 Shares in IDACORP, Inc. $IDA Purchased by Palisade Capital Management LP

Palisade Capital Management LP purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 179,233 shares of the energy company’s stock, valued at approximately $27,118,000. IDACORP makes up 1.2% of Palisade Capital Management LP’s investment portfolio, making the stock its 15th biggest position. Palisade Capital Management LP owned approximately 0.31% of IDACORP as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Entropy Technologies LP increased its holdings in shares of IDACORP by 282.7% during the 1st quarter. Entropy Technologies LP now owns 24,273 shares of the energy company’s stock worth $3,470,000 after buying an additional 17,931 shares during the last quarter. Aptus Capital Advisors LLC purchased a new position in IDACORP during the 4th quarter valued at about $6,366,000. Jennison Associates LLC lifted its holdings in 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 buying an additional 113,579 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in IDACORP by 7.1% in the fourth quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company’s stock valued at $90,741,000 after purchasing an additional 47,248 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new position in shares of IDACORP during the fourth quarter worth about $38,817,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $160.00 target price on shares of IDACORP in a research report on Thursday, July 23rd. Mizuho set a $157.00 price target on IDACORP in a research report on Friday, May 1st. Wells Fargo & Company increased their price target on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Barclays cut their price objective on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, IDACORP has an average rating of “Moderate Buy” and an average price target of $153.86.

IDACORP Stock Performance

NYSE:IDA opened at $137.71 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The stock has a market cap of $7.96 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.48. The firm’s fifty day simple moving average is $145.84 and its 200-day simple moving average is $143.52.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter last year, the business earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Analysts expect that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.

IDACORP Announces Dividend

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

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

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.