Quantbot Technologies LP acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,697 shares of the energy company’s stock, valued at approximately $1,165,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Evolve Private Wealth LLC bought a new position in IDACORP in the 2nd quarter worth about $383,000. Emerald Investment Advisers LLC purchased a new position in shares of IDACORP during the second quarter worth about $6,754,000. William Blair Investment Management LLC purchased a new position in shares of IDACORP during the second quarter worth about $32,297,000. Callan Family Office LLC bought a new position in shares of IDACORP in the second quarter worth approximately $336,000. Finally, Allworth Financial LP bought a new position in shares of IDACORP in the second quarter worth approximately $264,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on IDA shares. BTIG Research reissued a “buy” rating and issued a $160.00 price target on shares of IDACORP in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a report on Monday, August 3rd. Barclays dropped their price objective on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Morgan Stanley cut their target price on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Mizuho set a $157.00 target price on IDACORP in a research note on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.86.
IDACORP Stock Performance
NYSE IDA opened at $137.71 on Wednesday. The company has a 50-day simple moving average of $145.84 and a two-hundred day simple moving average of $143.52. The company has a quick ratio of 0.75, a current ratio of 0.99 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. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.38 and a beta of 0.48.
IDACORP (NYSE:IDA – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. During the same period last year, the firm earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 6.38 EPS 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 given a $0.88 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP’s payout ratio is presently 58.28%.
Insider Buying and Selling at IDACORP
In other news, VP James Bo D. Hanchey sold 1,500 shares of the firm’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 transaction, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.
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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