Oppenheimer Asset Management Inc. Acquires New Holdings in IDACORP, Inc. $IDA

Oppenheimer Asset Management Inc. acquired a new position in IDACORP, Inc. (NYSE:IDA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,044 shares of the energy company’s stock, valued at approximately $1,671,000.

A number of other hedge funds also recently bought and sold shares of the stock. Tema ETFs LLC boosted its position in IDACORP by 66.5% during the 2nd quarter. Tema ETFs LLC now owns 196,574 shares of the energy company’s stock valued at $29,742,000 after acquiring an additional 78,540 shares in the last quarter. LVM Capital Management Ltd. MI increased its holdings in shares of IDACORP by 1.1% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 129,107 shares of the energy company’s stock valued at $19,534,000 after acquiring an additional 1,396 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of IDACORP in the 2nd quarter worth $204,000. Fulton Bank N.A. raised its position in shares of IDACORP by 10.1% in the 2nd quarter. Fulton Bank N.A. now owns 5,683 shares of the energy company’s stock worth $860,000 after acquiring an additional 522 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of IDACORP by 28.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,390 shares of the energy company’s stock worth $2,026,000 after purchasing an additional 2,933 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IDA. Mizuho set a $157.00 price objective on IDACORP in a research report on Friday, May 1st. Morgan Stanley reiterated an “overweight” rating and issued a $156.00 target price on shares of IDACORP in a report on Wednesday, July 22nd. Barclays decreased their price target on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Wells Fargo & Company raised their price target on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, IDACORP currently has an average rating of “Moderate Buy” and a consensus target price of $154.57.

IDACORP Stock Down 0.1%

Shares of IDA stock opened at $142.53 on Monday. The stock’s fifty day moving average price is $146.09 and its 200 day moving average price is $143.19. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 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 company had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. During the same period last year, the business posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, research analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s dividend payout ratio is 58.28%.

Insider Activity

In related news, VP James Bo D. Hanchey sold 1,500 shares of the 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 completion of the transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.