Capital Research Global Investors Takes Position in IDACORP, Inc. $IDA

Capital Research Global Investors bought a new stake in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, HoldingsChannel reports. The firm bought 351,700 shares of the energy company’s stock, valued at approximately $44,511,000.

A number of other institutional investors have also modified their holdings of IDA. Orion Porfolio Solutions LLC raised its stake in shares of IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after purchasing an additional 586,221 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of IDACORP in the 3rd quarter valued at about $71,031,000. Invesco Ltd. raised its stake in shares of IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after purchasing an additional 344,622 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in IDACORP during the fourth quarter worth $38,817,000. Finally, BROOKFIELD Corp ON bought a new position in IDACORP during the second quarter worth $33,920,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

IDA stock opened at $140.15 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. The stock has a market capitalization of $7.77 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.75 and a beta of 0.49. IDACORP, Inc. has a 1 year low of $111.12 and a 1 year high of $149.73. The stock’s fifty day moving average is $143.37 and its two-hundred day moving average is $137.19.

IDACORP (NYSE:IDA) last posted its 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. The company had revenue of $403.41 million for 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 last year, the business posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, research analysts predict that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, May 5th. IDACORP’s dividend payout ratio (DPR) is presently 58.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IDA. Morgan Stanley set a $147.00 price objective on IDACORP in a research note on Thursday, May 21st. Barclays raised their price objective on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wells Fargo & Company restated an “underweight” rating and set a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Mizuho set a $157.00 price objective on IDACORP in a research note on Friday, May 1st. Finally, UBS Group raised their price objective on IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, IDACORP presently has a consensus rating of “Moderate Buy” and an average price target of $148.57.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’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 sale, the vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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.