Northwestern Mutual Wealth Management Co. Makes New $996,000 Investment in IDACORP, Inc. $IDA

Northwestern Mutual Wealth Management Co. acquired a new position in shares of IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,580 shares of the energy company’s stock, valued at approximately $996,000.

Other large investors have also modified their holdings of the company. Entropy Technologies LP boosted its stake in IDACORP by 282.7% in the first quarter. Entropy Technologies LP now owns 24,273 shares of the energy company’s stock valued at $3,470,000 after acquiring an additional 17,931 shares in the last quarter. Aptus Capital Advisors LLC acquired a new stake in shares of IDACORP during the fourth quarter worth about $6,366,000. GW&K Investment Management LLC increased its position in shares of IDACORP by 7.1% during the fourth quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company’s stock worth $90,741,000 after purchasing an additional 47,248 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of IDACORP by 8.3% in the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock valued at $187,770,000 after purchasing an additional 113,579 shares during the last quarter. Finally, Mendon Capital Advisors Corp purchased a new stake in shares of IDACORP in the 1st quarter valued at about $11,096,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the transaction, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

IDACORP Price Performance

Shares of IDA opened at $137.71 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The firm has a 50-day simple moving average of $145.84 and a 200-day simple moving average of $143.52. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.48.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. The firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same quarter in the previous year, the firm posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities research analysts anticipate that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 5th. IDACORP’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IDA. Barclays dropped their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Mizuho set a $157.00 price objective on IDACORP in a report on Friday, May 1st. 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. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, IDACORP currently has an average rating of “Moderate Buy” and a consensus target price of $153.86.

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.