PDT Partners LLC Invests $4.45 Million in IDACORP, Inc. $IDA

PDT Partners LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,441 shares of the energy company’s stock, valued at approximately $4,454,000. PDT Partners LLC owned approximately 0.05% of IDACORP as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Palisade Capital Management LP purchased a new stake in IDACORP during the 2nd quarter worth about $27,118,000. Osterweis Capital Management Inc. purchased a new position in IDACORP in the 2nd quarter valued at about $25,000. Legal & General Group Plc purchased a new position in IDACORP in the 2nd quarter valued at about $40,724,000. The Manufacturers Life Insurance Company acquired a new stake in shares of IDACORP during the 2nd quarter worth about $6,526,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth about $637,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

IDA has been the subject of a number of analyst reports. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Wells Fargo & Company raised their target price on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Morgan Stanley lowered their target price on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday. Barclays cut their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Finally, Weiss Ratings reissued 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.86.

Insider Activity at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is currently owned by insiders.

IDACORP Trading Down 0.4%

NYSE IDA opened at $137.71 on Wednesday. The company has a market cap of $7.96 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.38 and a beta of 0.48. IDACORP, Inc. has a 12 month low of $122.30 and a 12 month high of $154.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. The company has a 50-day moving average of $145.84 and a 200-day moving average of $143.52.

IDACORP (NYSE:IDA) last released its 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 net margin of 18.78% and a return on equity of 9.34%. The business had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. During the same period last year, the company earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts predict that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. IDACORP’s payout ratio is currently 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.