Principal Financial Group Inc. Sells 13,667 Shares of IDACORP, Inc. $IDA

Principal Financial Group Inc. cut its holdings in IDACORP, Inc. (NYSE:IDA) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 460,740 shares of the energy company’s stock after selling 13,667 shares during the period. Principal Financial Group Inc. owned about 0.84% of IDACORP worth $65,874,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC increased its position in shares of IDACORP by 5.1% in the fourth quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock valued at $209,000 after acquiring an additional 80 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of IDACORP by 48.0% during the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after purchasing an additional 98 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of IDACORP by 1.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock valued at $758,000 after buying an additional 106 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of IDACORP by 0.9% in the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after buying an additional 106 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of IDACORP by 62.0% in the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after buying an additional 119 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction on Friday, May 29th. The stock was 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 of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

IDACORP Trading Up 1.2%

IDA stock opened at $151.04 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. The company’s 50-day simple moving average is $144.65 and its 200 day simple moving average is $141.04. IDACORP, Inc. has a 52 week low of $117.86 and a 52 week high of $154.91. The company has a market capitalization of $8.37 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its earnings results 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 analyst estimates of $437.51 million. During the same quarter in the prior year, the business posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, sell-side analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.3%. IDACORP’s payout ratio is currently 58.57%.

Analysts Set New Price Targets

IDA has been the subject of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $152.00 price objective on shares of IDACORP in a research report on Wednesday, June 24th. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Wells Fargo & Company restated an “underweight” rating and issued a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.29.

IDACORP 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.