Kennedy Capital Management LLC Grows Stake in IDACORP, Inc. $IDA

Kennedy Capital Management LLC grew its position in shares of IDACORP, Inc. (NYSE:IDA) by 19.8% in the fourth quarter, Holdings Channel reports. The firm owned 141,776 shares of the energy company’s stock after purchasing an additional 23,477 shares during the period. Kennedy Capital Management LLC’s holdings in IDACORP were worth $17,943,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IDA. Torren Management LLC purchased a new position in shares of IDACORP during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew its position in shares of IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of IDACORP during the 3rd quarter valued at $34,000. Los Angeles Capital Management LLC purchased a new position in shares of IDACORP during the 4th quarter valued at $35,000. Finally, Smartleaf Asset Management LLC grew its position in shares of 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 in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IDA. Wells Fargo & Company restated an “underweight” rating and set a $121.00 price target on shares of IDACORP in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. UBS Group upped their target price on shares of IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and a consensus target price of $148.57.

IDACORP Stock Performance

NYSE IDA opened at $142.96 on Friday. The company has a 50-day simple moving average of $143.31 and a two-hundred day simple moving average of $137.43. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 12-month low of $111.12 and a 12-month high of $149.73. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 23.79, a PEG ratio of 2.85 and a beta of 0.49.

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

IDACORP Dividend Announcement

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

Insider Transactions at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the 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 transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by insiders.

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.