JPMorgan Chase & Co. Sells 13,837 Shares of IDACORP, Inc. $IDA

JPMorgan Chase & Co. lowered its position in IDACORP, Inc. (NYSE:IDA) by 4.3% in the third quarter, HoldingsChannel.com reports. The fund owned 304,269 shares of the energy company’s stock after selling 13,837 shares during the quarter. JPMorgan Chase & Co.’s holdings in IDACORP were worth $40,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its stake in shares of IDACORP by 3,215.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock worth $69,784,000 after purchasing an additional 586,221 shares during the last quarter. Zimmer Partners LP acquired a new stake in IDACORP in the 3rd quarter valued at about $71,031,000. Soros Fund Management LLC acquired a new stake in IDACORP in the 2nd quarter valued at about $46,919,000. Invesco Ltd. grew its holdings in IDACORP by 139.4% during the third quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock worth $78,208,000 after purchasing an additional 344,622 shares during the period. Finally, BROOKFIELD Corp ON acquired a new position in IDACORP during the second quarter worth approximately $33,920,000. Institutional investors own 89.10% of the company’s stock.

Insiders Place Their Bets

In other news, VP Julia A. Hilton sold 1,000 shares of IDACORP stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the completion of the sale, the vice president owned 2,313 shares of the company’s stock, valued at approximately $330,273.27. This trade represents a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research analyst reports. Mizuho upped their price objective on IDACORP from $141.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Morgan Stanley set a $155.00 target price on IDACORP in a report on Friday, February 20th. Jefferies Financial Group dropped their price target on IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, January 28th. Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $129.00 to $118.00 in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.00.

IDACORP Trading Down 2.8%

Shares of NYSE:IDA opened at $135.79 on Friday. IDACORP, Inc. has a 12-month low of $108.15 and a 12-month high of $145.94. The business has a 50 day moving average of $138.06 and a 200-day moving average of $132.22. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.45 billion, a PE ratio of 23.01, a P/E/G ratio of 2.64 and a beta of 0.58.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. The company had revenue of $405.24 million for the quarter, compared to analyst estimates of $533.06 million. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.During the same quarter last year, the company earned $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, February 5th. This represents a $3.52 annualized dividend and a yield of 2.6%. IDACORP’s dividend payout ratio (DPR) is presently 59.66%.

IDACORP Company 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.