IDACORP, Inc. $IDA Shares Acquired by Strs Ohio

Strs Ohio boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 6.1% during the 1st quarter, Holdings Channel reports. The fund owned 139,882 shares of the energy company’s stock after acquiring an additional 7,998 shares during the quarter. Strs Ohio’s holdings in IDACORP were worth $19,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in IDA. Morgan Stanley grew its stake in shares of IDACORP by 9.9% in the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after purchasing an additional 188,845 shares in the last quarter. State Street Corp raised its stake in shares of IDACORP by 0.6% during the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after purchasing an additional 11,403 shares in the last quarter. Reaves W H & Co. Inc. lifted its holdings in IDACORP by 6.3% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after purchasing an additional 107,131 shares during the period. Jennison Associates LLC lifted its holdings in IDACORP by 8.3% in the fourth quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock worth $187,770,000 after purchasing an additional 113,579 shares during the period. Finally, Alliancebernstein L.P. grew its position in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after buying an additional 13,283 shares in the last quarter. Institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of NYSE IDA opened at $154.63 on Friday. IDACORP, Inc. has a twelve month low of $113.99 and a twelve month high of $154.90. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average of $143.79 and a two-hundred day moving average of $139.46. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.08 and a beta of 0.48.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The company had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. During the same quarter in the previous year, the company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th were given a $0.88 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $3.52 annualized dividend and a yield of 2.3%. IDACORP’s payout ratio is 58.57%.

Analyst Upgrades and Downgrades

A number of research firms have commented on IDA. Morgan Stanley restated an “overweight” rating and set a $152.00 price target on shares of IDACORP in a research report on Wednesday, June 24th. Barclays raised their price objective on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Mizuho set a $157.00 target price on IDACORP in a research report on Friday, May 1st. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $121.00 price target on shares of IDACORP in a research note 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.29.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the company’s 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 transaction, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.