Jefferies Financial Group Inc. bought a new position in shares of IDACORP, Inc. (NYSE:IDA – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 14,157 shares of the energy company’s stock, valued at approximately $1,792,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IDA. Torren Management LLC acquired a new stake in IDACORP during the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $29,000 after buying an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of IDACORP during the 3rd quarter worth approximately $34,000. Smartleaf Asset Management LLC boosted its holdings 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 worth $36,000 after buying an additional 119 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of IDACORP by 892.1% during the 2nd quarter. Headlands Technologies LLC now owns 754 shares of the energy company’s stock worth $87,000 after buying an additional 678 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
IDA has been the topic of several research reports. Barclays upped their price objective on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Jefferies Financial Group reduced their price objective on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. BTIG Research restated a “buy” rating and issued a $156.00 target price on shares of IDACORP in a report on Friday, January 30th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $121.00 target price on shares of IDACORP in a report on Tuesday, April 21st. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.57.
IDACORP Stock Up 0.8%
IDA opened at $143.73 on Thursday. The company has a 50 day moving average of $143.44 and a 200 day moving average of $136.55. The company has a market cap of $7.96 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. IDACORP, Inc. has a 12 month low of $111.12 and a 12 month high of $149.73. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01.
IDACORP (NYSE:IDA – Get Free Report) last posted its earnings results on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $403.41 million during the quarter, compared to analysts’ expectations of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same period in the previous year, the business earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, sell-side analysts expect that IDACORP, Inc. will post 6.39 EPS for the current year.
IDACORP Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th will be given a $0.88 dividend. The ex-dividend date is Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. IDACORP’s payout ratio is presently 58.57%.
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.
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