Oliver Luxxe Assets LLC Lowers Holdings in IDACORP, Inc. $IDA

Oliver Luxxe Assets LLC decreased its holdings in IDACORP, Inc. (NYSE:IDA) by 45.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,416 shares of the energy company’s stock after selling 10,491 shares during the period. Oliver Luxxe Assets LLC’s holdings in IDACORP were worth $1,879,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IDA. Entropy Technologies LP grew its holdings in IDACORP by 282.7% during the 1st quarter. Entropy Technologies LP now owns 24,273 shares of the energy company’s stock valued at $3,470,000 after buying an additional 17,931 shares in the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of IDACORP during the fourth quarter valued at approximately $6,366,000. GW&K Investment Management LLC lifted its holdings in shares of IDACORP by 7.1% in the fourth quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company’s stock worth $90,741,000 after buying an additional 47,248 shares in the last quarter. Reaves W H & Co. Inc. lifted its holdings in shares of 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 buying an additional 107,131 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of IDACORP by 8.3% during the fourth quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after acquiring an additional 113,579 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.8%

NYSE IDA opened at $142.09 on Friday. The stock has a 50 day moving average price of $145.76 and a 200-day moving average price of $142.85. IDACORP, Inc. has a one year low of $122.30 and a one year high of $154.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. The company has a market capitalization of $8.22 billion, a P/E ratio of 23.53, a P/E/G ratio of 2.44 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $469.80 million for 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 in the previous year, the business posted $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 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders 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 2.5%. IDACORP’s payout ratio is 58.28%.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the sale, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IDA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. Wells Fargo & Company increased their price objective on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Mizuho set a $157.00 price objective on IDACORP in a research report on Friday, May 1st. Finally, Barclays reduced their target price on IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a report on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, IDACORP presently has an average rating of “Moderate Buy” and an average target price of $154.57.

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.