Lord Abbett & CO. LLC Sells 27,432 Shares of IDACORP, Inc. $IDA

Lord Abbett & CO. LLC decreased its position in IDACORP, Inc. (NYSE:IDA) by 3.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 695,722 shares of the energy company’s stock after selling 27,432 shares during the quarter. Lord Abbett & CO. LLC’s holdings in IDACORP were worth $88,051,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in IDACORP by 6.3% in the second quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after purchasing an additional 110,885 shares in the last quarter. Reaves W H & Co. Inc. raised its holdings in IDACORP by 6.3% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after purchasing an additional 107,131 shares in the last quarter. Jennison Associates LLC raised its holdings in IDACORP by 8.3% in the fourth quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after purchasing an additional 113,579 shares in the last quarter. Alliancebernstein L.P. raised its holdings in IDACORP by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after purchasing an additional 13,283 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in IDACORP by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,102,727 shares of the energy company’s stock worth $139,601,000 after purchasing an additional 54,934 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction dated 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 sale, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on IDA shares. Morgan Stanley set a $147.00 price objective on IDACORP in a report on Thursday, May 21st. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Mizuho set a $157.00 price target on IDACORP in a report on Friday, May 1st. Barclays raised their price target on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.57.

IDACORP Price Performance

Shares of NYSE:IDA opened at $142.96 on Friday. IDACORP, Inc. has a 1-year low of $111.12 and a 1-year high of $149.73. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The business has a fifty day moving average price of $143.31 and a 200-day moving average price of $137.43. The company has a market capitalization of $7.92 billion, a PE ratio of 23.79, a PEG ratio of 2.82 and a beta of 0.49.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same period last year, the company earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, May 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s dividend payout ratio (DPR) is presently 58.57%.

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.