William Blair Investment Management LLC Trims Position in IDACORP, Inc. $IDA

William Blair Investment Management LLC lessened its stake in IDACORP, Inc. (NYSE:IDA) by 7.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 576,077 shares of the energy company’s stock after selling 46,980 shares during the quarter. William Blair Investment Management LLC’s holdings in IDACORP were worth $72,908,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in IDACORP by 6.3% in the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after buying an additional 110,885 shares during the period. Reaves W H & Co. Inc. increased its stake in IDACORP by 8.5% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock worth $224,745,000 after buying an additional 133,836 shares during the period. Jennison Associates LLC increased its stake in IDACORP by 8.3% in the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after buying an additional 113,579 shares during the period. Alliancebernstein L.P. increased its stake in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after buying an additional 13,283 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in IDACORP by 27.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 779,961 shares of the energy company’s stock worth $98,712,000 after buying an additional 166,848 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 0.0%

Shares of IDACORP stock opened at $142.01 on Monday. The firm’s 50 day moving average price is $143.39 and its 200-day moving average price is $136.25. 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 52-week low of $111.12 and a 52-week high of $149.73. The company has a market cap of $7.87 billion, a P/E ratio of 23.63, a PEG ratio of 2.83 and a beta of 0.52.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The firm had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. During the same quarter in the previous year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, sell-side analysts predict that IDACORP, Inc. will post 6.38 EPS for the current fiscal year.

IDACORP Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on IDA. Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Mizuho set a $157.00 price target on shares of IDACORP in a research note on Friday, May 1st. Barclays raised their target price on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Jefferies Financial Group cut their target price on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Finally, BTIG Research reissued a “buy” rating and set a $156.00 target price on shares of IDACORP in a research report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, IDACORP presently has an average rating of “Moderate Buy” and a consensus target price of $148.57.

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.