IDACORP (NYSE:IDA) Sees Large Volume Increase – Here’s What Happened

IDACORP, Inc. (NYSE:IDA) saw unusually-high trading volume on Thursday . 819,644 shares changed hands during trading, an increase of 58% from the previous session’s volume of 518,807 shares.The stock last traded at $150.8530 and had previously closed at $150.12.

Analyst Ratings Changes

IDA has been the subject of several recent research reports. Barclays increased their price objective on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $152.00 price target on shares of IDACORP in a research note on Wednesday, June 24th. Mizuho set a $157.00 price target on IDACORP in a report on Friday, May 1st. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $121.00 price objective on shares of IDACORP in a research report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

IDACORP Stock Performance

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 company has a market cap of $8.42 billion, a P/E ratio of 25.26, a P/E/G ratio of 3.02 and a beta of 0.48. The firm has a 50 day moving average price of $143.36 and a 200-day moving average price of $139.15.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million during the quarter, compared to analysts’ expectations of $437.51 million. During the same quarter in the prior year, the business earned $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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 5th. IDACORP’s dividend payout ratio is currently 58.57%.

Insider Transactions at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction 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 directly owned 2,138 shares in the company, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of IDACORP by 79.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock worth $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. boosted its stake in IDACORP by 6.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in IDACORP by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock valued at $16,698,000 after buying an additional 10,855 shares during the last quarter. American Century Companies Inc. grew its holdings in IDACORP by 12.6% in the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock valued at $2,082,000 after buying an additional 2,016 shares during the last quarter. Finally, Invesco Ltd. increased its position in IDACORP by 5.7% in the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after buying an additional 13,297 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.