Kingdom Financial Group LLC. Invests $620,000 in IDACORP, Inc. $IDA

Kingdom Financial Group LLC. bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,895 shares of the energy company’s stock, valued at approximately $620,000.

Other large investors also recently made changes to their positions in the company. Global Retirement Partners LLC raised its stake in IDACORP by 1,628.8% in the 4th quarter. Global Retirement Partners LLC now owns 5,169 shares of the energy company’s stock worth $654,000 after purchasing an additional 4,870 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of IDACORP by 18.2% during the 4th quarter. Gamco Investors INC. ET AL now owns 13,000 shares of the energy company’s stock valued at $1,645,000 after acquiring an additional 2,000 shares during the period. Gabelli Funds LLC lifted its position in shares of IDACORP by 12.9% during the 4th quarter. Gabelli Funds LLC now owns 56,000 shares of the energy company’s stock valued at $7,087,000 after acquiring an additional 6,405 shares during the period. North Dakota State Investment Board bought a new stake in shares of IDACORP during the 4th quarter valued at $242,000. Finally, AlphaCore Capital LLC bought a new stake in shares of IDACORP during the 4th quarter valued at $242,000. Institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Wells Fargo & Company reiterated an “underweight” rating and set a $121.00 price target on shares of IDACORP in a report on Tuesday, April 21st. Jefferies Financial Group lowered their price target on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Morgan Stanley set a $147.00 target price on shares of IDACORP in a research report on Thursday. Finally, Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.57.

Insider Activity

In related news, VP Julia A. Hilton sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total transaction of $142,790.00. Following the sale, the vice president directly owned 2,313 shares in the company, valued at approximately $330,273.27. This represents a 30.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

IDACORP Trading Up 0.1%

NYSE IDA opened at $141.69 on Friday. IDACORP, Inc. has a one year low of $111.12 and a one year high of $149.73. The stock has a market capitalization of $7.85 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The business has a 50 day simple moving average of $143.37 and a 200 day simple moving average of $136.16.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, beating 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 business had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. During the same quarter last year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, May 5th. IDACORP’s dividend payout ratio (DPR) is 58.57%.

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.