Hsbc Holdings PLC purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA – Free Report) during the first quarter, Holdings Channel reports. The institutional investor purchased 7,657 shares of the energy company’s stock, valued at approximately $1,094,000.
Several other institutional investors and hedge funds also recently bought and sold shares of IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after buying an additional 2,625 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after acquiring an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after acquiring an additional 10,855 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of IDACORP by 12.6% in the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after acquiring an additional 2,016 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of IDACORP by 5.7% in the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after acquiring an additional 13,297 shares during the period. 89.10% of the stock is owned by institutional investors.
Insider Transactions at IDACORP
In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on 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 owned 2,138 shares of the company’s stock, valued at $301,351.10. The trade was a 41.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.
IDACORP Price Performance
IDACORP (NYSE:IDA – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter last year, the company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities analysts anticipate that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.
IDACORP Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s payout ratio is presently 58.57%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Mizuho set a $157.00 price objective on IDACORP in a research note on Friday, May 1st. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Saturday. Barclays upped their price target on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company raised shares of IDACORP from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $121.00 to $154.00 in a report on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.14.
Check Out Our Latest Stock Report on IDACORP
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.
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