Virtus Advisers LLC acquired a new position in shares of IDACORP, Inc. (NYSE:IDA – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,686 shares of the energy company’s stock, valued at approximately $860,000.
Several other institutional investors have also added to or reduced their stakes in the stock. Torren Management LLC acquired a new position in IDACORP in the 4th quarter worth $25,000. Western Wealth Management LLC acquired a new stake in shares of IDACORP in the 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares in the last quarter. Trust Co. of Vermont bought a new stake in shares of IDACORP in the second quarter valued at about $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of IDACORP during the third quarter worth about $34,000. 89.10% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on IDA shares. Barclays dropped their target price on IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $156.00 price target on shares of IDACORP in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd. BTIG Research reaffirmed a “buy” rating and set a $160.00 price target on shares of IDACORP in a research note on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $154.57.
Insider Buying and Selling at IDACORP
In other news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction that occurred 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 owned 2,138 shares in the company, valued at $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is owned by company insiders.
IDACORP Trading Down 0.3%
IDACORP stock opened at $140.27 on Friday. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 2.42 and a beta of 0.48. The firm has a 50-day moving average of $146.15 and a 200-day moving average of $143.42. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. IDACORP, Inc. has a one year low of $122.30 and a one year high of $154.91.
IDACORP (NYSE:IDA – Get Free Report) last released its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The business had revenue of $469.80 million for the quarter, compared to the consensus estimate of $511.87 million. During the same quarter in the previous year, the business earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.
IDACORP Dividend Announcement
The business also recently declared 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 of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s payout ratio is 58.28%.
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.
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