Phocas Financial Corp. Invests $7.17 Million in IDACORP, Inc. $IDA

Phocas Financial Corp. acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 56,662 shares of the energy company’s stock, valued at approximately $7,171,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Porfolio Solutions LLC lifted its stake in IDACORP by 3,215.7% during the second 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 purchased a new position in IDACORP in the third quarter valued at approximately $71,031,000. Soros Fund Management LLC purchased a new position in IDACORP in the second quarter valued at approximately $46,919,000. Invesco Ltd. raised 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 in the last quarter. Finally, BROOKFIELD Corp ON acquired a new stake in IDACORP during the second quarter worth approximately $33,920,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IDA. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Sunday, February 22nd. Barclays lifted their price target on shares of IDACORP from $144.00 to $149.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. Morgan Stanley set a $155.00 price objective on shares of IDACORP in a research note on Friday, February 20th. Finally, Jefferies Financial Group dropped their price objective on IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

Insider Activity at IDACORP

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

IDACORP Price Performance

IDA stock opened at $144.29 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $7.92 billion, a P/E ratio of 24.46, a PEG ratio of 2.81 and a beta of 0.54. The business has a 50 day simple moving average of $139.77 and a 200-day simple moving average of $133.41. IDACORP, Inc. has a twelve month low of $108.15 and a twelve month high of $145.94.

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

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th were paid a $0.88 dividend. The ex-dividend date was Thursday, February 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s payout ratio is currently 59.66%.

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.