IDACORP, Inc. $IDA Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of IDACORP, Inc. (NYSE:IDA) by 190.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 45,417 shares of the energy company’s stock after acquiring an additional 29,780 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in IDACORP were worth $6,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Torren Management LLC acquired a new stake in shares of IDACORP in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of IDACORP in the 3rd quarter worth approximately $34,000. Los Angeles Capital Management LLC acquired a new stake in shares of IDACORP in the 4th quarter worth approximately $35,000. Finally, Smartleaf Asset Management LLC increased its stake in IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after purchasing an additional 119 shares in the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IDA has been the subject of several research reports. Morgan Stanley set a $147.00 price objective on IDACORP in a report on Thursday, May 21st. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Barclays lifted their price target on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Finally, Mizuho set a $157.00 price target on IDACORP in a research note on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.57.

IDACORP Trading Up 0.2%

Shares of IDA opened at $142.66 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. IDACORP, Inc. has a 1-year low of $113.06 and a 1-year high of $149.73. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 2.84 and a beta of 0.49. The firm has a 50 day simple moving average of $142.94 and a 200-day simple moving average of $137.99.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter in the prior year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

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

Insider Activity

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction 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 sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate 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.