IDACORP, Inc. $IDA Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its stake in IDACORP, Inc. (NYSE:IDA) by 16.3% during the second quarter, Holdings Channel reports. The institutional investor owned 317,135 shares of the energy company’s stock after selling 61,747 shares during the quarter. Squarepoint Ops LLC’s holdings in IDACORP were worth $47,983,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 valued at $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. lifted its stake in IDACORP by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after buying an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake 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 in the last quarter. American Century Companies Inc. boosted 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 worth $2,082,000 after buying an additional 2,016 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings 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 last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen raised IDACORP from a “sell” rating to a “hold” rating in a research note on Sunday. Morgan Stanley decreased their price objective on IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. BTIG Research reaffirmed a “buy” rating and set a $160.00 target price on shares of IDACORP in a research note on Thursday, July 23rd. Wells Fargo & Company upped their target price on shares of IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, Barclays reduced their target price 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. 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, IDACORP has a consensus rating of “Moderate Buy” and a consensus target price of $153.86.

IDACORP Stock Performance

IDACORP stock opened at $138.10 on Wednesday. The firm has a 50 day simple moving average of $143.83 and a 200-day simple moving average of $143.31. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.34 and a beta of 0.47. 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, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The business had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. During the same quarter in the prior year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, analysts expect that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Wednesday, August 5th were issued a $0.88 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. IDACORP’s payout ratio is 58.28%.

IDACORP 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.