Kayne Anderson Capital Advisors LP Makes New Investment in IDACORP, Inc. $IDA

Kayne Anderson Capital Advisors LP purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 49,090 shares of the energy company’s stock, valued at approximately $7,427,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of IDACORP during the second quarter worth approximately $1,033,914,000. Orion Porfolio Solutions LLC increased its position in IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after acquiring an additional 586,221 shares during the period. Zimmer Partners LP acquired a new stake in IDACORP in the 3rd quarter valued at approximately $71,031,000. Bank of New York Mellon Corp bought a new stake in IDACORP during the 2nd quarter valued at $72,143,000. Finally, Energy Income Partners LLC bought a new stake in IDACORP during the 2nd quarter valued at $60,618,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of NYSE IDA opened at $140.27 on Friday. IDACORP, Inc. has a 1 year low of $122.30 and a 1 year high of $154.91. The firm has a market cap of $8.11 billion, a P/E ratio of 23.22, a PEG ratio of 2.42 and a beta of 0.48. The stock has a fifty day moving average price of $146.15 and a two-hundred day moving average price of $143.42. 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 (NYSE:IDA) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. The company had revenue of $469.80 million for the quarter, compared to the consensus estimate 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 business earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Research analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s payout ratio is presently 58.28%.

Insider Buying and Selling

In other IDACORP 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 value of $211,425.00. Following the completion of the sale, the vice president directly owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on IDA. Barclays reduced their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $156.00 price objective on shares of IDACORP in a report on Wednesday, July 22nd. Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Finally, BTIG Research reissued a “buy” rating and set a $160.00 target price on shares of IDACORP in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

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.