IDACORP, Inc. $IDA Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of IDACORP, Inc. (NYSE:IDA) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,102,727 shares of the energy company’s stock after acquiring an additional 54,934 shares during the quarter. Geode Capital Management LLC’s holdings in IDACORP were worth $139,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMG National Trust Bank increased its stake in IDACORP by 0.7% during the third quarter. AMG National Trust Bank now owns 11,665 shares of the energy company’s stock worth $1,542,000 after acquiring an additional 80 shares during the last quarter. Assetmark Inc. increased its stake in IDACORP by 7.6% during the third quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock worth $149,000 after acquiring an additional 80 shares during the last quarter. AssuredPartners Investment Advisors LLC increased its stake in IDACORP by 5.1% during the fourth quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock worth $209,000 after acquiring an additional 80 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in IDACORP by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 408 shares of the energy company’s stock worth $53,000 after acquiring an additional 97 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in IDACORP by 48.0% during the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after acquiring an additional 98 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the completion of the sale, the vice president owned 2,138 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

IDACORP Price Performance

IDA stock opened at $138.70 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. IDACORP, Inc. has a 1 year low of $111.12 and a 1 year high of $149.73. The firm has a market cap of $7.69 billion, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49. The stock has a 50-day simple moving average of $143.35 and a 200-day simple moving average of $136.92.

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. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The business had revenue of $403.41 million during the quarter, compared to analyst estimates of $437.51 million. During the same quarter last year, the firm earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Wells Fargo & Company restated an “underweight” rating and set a $121.00 price target on shares of IDACORP in a research note on Tuesday, April 21st. Barclays increased their target price on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Morgan Stanley set a $147.00 target price on IDACORP in a research note on Thursday, May 21st. Finally, UBS Group increased their target price on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.57.

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.