Corient Private Wealth LP Acquires Shares of 9,885 IDACORP, Inc. $IDA

Corient Private Wealth LP bought a new position in IDACORP, Inc. (NYSE:IDA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,885 shares of the energy company’s stock, valued at approximately $1,496,000.

A number of other institutional investors also recently modified their holdings of IDA. Osterweis Capital Management Inc. acquired a new position in shares of IDACORP in the second quarter worth $25,000. Western Wealth Management LLC acquired a new stake in IDACORP during the first quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its position in 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 last quarter. Trust Co. of Vermont purchased a new position in IDACORP in the second quarter valued at about $30,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in IDACORP in the second quarter valued at about $33,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Up 0.7%

Shares of IDA stock opened at $136.11 on Friday. IDACORP, Inc. has a 12 month low of $122.30 and a 12 month high of $154.91. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The firm has a market cap of $7.87 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.33 and a beta of 0.47. The stock has a 50 day moving average of $144.74 and a 200-day moving average of $143.44.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $511.87 million. During the same quarter in the previous year, the firm posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities analysts predict that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on IDA. BTIG Research reaffirmed a “buy” rating and set a $160.00 price target on shares of IDACORP in a research note on Thursday, July 23rd. Barclays reduced their target price on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Morgan Stanley dropped their price target on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Wall Street Zen downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Weiss Ratings reaffirmed 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, the company has an average rating of “Moderate Buy” and a consensus price target 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.