Connor Clark & Lunn Investment Management Ltd. Makes New Investment in IDACORP, Inc. $IDA

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 281,838 shares of the energy company’s stock, valued at approximately $42,642,000. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of IDACORP at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Entropy Technologies LP grew its stake in IDACORP by 282.7% during the first quarter. Entropy Technologies LP now owns 24,273 shares of the energy company’s stock worth $3,470,000 after purchasing an additional 17,931 shares during the period. Aptus Capital Advisors LLC bought a new position in shares of IDACORP in the fourth quarter valued at $6,366,000. Jennison Associates LLC boosted its stake in IDACORP by 8.3% during 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. GW&K Investment Management LLC boosted 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 valued at $90,741,000 after buying an additional 47,248 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of IDACORP in the 4th quarter worth $38,817,000. 89.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IDA has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. BTIG Research reiterated a “buy” rating and set a $160.00 price target on shares of IDACORP in a research report on Thursday, July 23rd. Mizuho set a $157.00 price objective on IDACORP in a research report on Friday, May 1st. Finally, Barclays dropped their target price on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, IDACORP has a consensus rating of “Moderate Buy” and a consensus target price of $153.86.

Insiders Place Their Bets

In other IDACORP 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 value of $211,425.00. Following the completion of the transaction, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

IDACORP Price Performance

IDA stock opened at $138.15 on Tuesday. The firm’s 50-day moving average price is $145.94 and its two-hundred day moving average price is $143.50. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 2.37 and a beta of 0.48. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a 12-month low of $122.30 and a 12-month high of $154.91.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. The firm had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same period last year, the company earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts predict that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Announces Dividend

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

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.