Assenagon Asset Management S.A. Takes $603,000 Position in IDACORP, Inc. $IDA

Assenagon Asset Management S.A. acquired a new position in IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 4,762 shares of the energy company’s stock, valued at approximately $603,000.

Other large investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after acquiring an additional 189 shares during the last quarter. Quent Capital LLC bought a new stake in IDACORP during the 3rd quarter worth about $30,000. Measured Wealth Private Client Group LLC acquired a new position in IDACORP during the 3rd quarter valued at about $34,000. Smartleaf Asset Management LLC lifted its position in IDACORP by 62.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after purchasing an additional 119 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of IDACORP by 160.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 458 shares of the energy company’s stock valued at $61,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Up 0.7%

Shares of NYSE:IDA opened at $144.04 on Thursday. The company has a 50 day moving average price of $139.31 and a two-hundred day moving average price of $133.08. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 0.93. The company has a market capitalization of $7.91 billion, a PE ratio of 24.41, a PEG ratio of 2.79 and a beta of 0.54. IDACORP, Inc. has a 52 week low of $108.15 and a 52 week high of $145.94.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. The company had revenue of $405.24 million for the quarter, compared to analysts’ expectations of $533.06 million. During the same period last year, the firm posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th were issued a dividend of $0.88 per share. The ex-dividend date was Thursday, February 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s payout ratio is currently 59.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IDA shares. UBS Group boosted their price target on shares of IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Morgan Stanley set a $155.00 price objective on shares of IDACORP in a research note on Friday, February 20th. Barclays lifted their target price on shares of IDACORP from $144.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Jefferies Financial Group dropped their target price on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IDACORP has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Insider Transactions at IDACORP

In other IDACORP news, VP Julia A. Hilton sold 1,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $142.79, for a total value of $142,790.00. Following the completion of the transaction, the vice president directly owned 2,313 shares of the company’s stock, valued at approximately $330,273.27. The trade was a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.