BW Gestao de Investimentos Ltda. Makes New Investment in IDACORP, Inc. $IDA

BW Gestao de Investimentos Ltda. bought a new position in IDACORP, Inc. (NYSE:IDA) in the fourth quarter, Holdings Channel reports. The institutional investor bought 90,740 shares of the energy company’s stock, valued at approximately $11,484,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. grew its holdings in shares of IDACORP by 31.8% during the 3rd quarter. Alps Advisors Inc. now owns 29,178 shares of the energy company’s stock worth $3,856,000 after purchasing an additional 7,036 shares during the period. First National Bank of Omaha purchased a new position in shares of IDACORP during the 3rd quarter worth $6,480,000. Phocas Financial Corp. purchased a new position in shares of IDACORP during the 4th quarter worth $7,171,000. HighTower Advisors LLC grew its holdings in shares of IDACORP by 122.2% during the 3rd quarter. HighTower Advisors LLC now owns 30,367 shares of the energy company’s stock worth $4,013,000 after purchasing an additional 16,699 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of IDACORP by 102.8% during the 3rd quarter. Citigroup Inc. now owns 72,933 shares of the energy company’s stock worth $9,638,000 after purchasing an additional 36,969 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Morgan Stanley set a $147.00 target price on IDACORP in a research report on Thursday, May 21st. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Wells Fargo & Company reissued an “underweight” rating and set a $121.00 target price on shares of IDACORP in a research report on Tuesday, April 21st. Finally, Barclays lifted their price target on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $148.57.

IDACORP Stock Down 3.7%

IDACORP stock opened at $135.10 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 $111.12 and a 1-year high of $149.73. The company has a market cap of $7.49 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.80 and a beta of 0.49. The stock’s 50 day moving average price is $143.32 and its 200 day moving average price is $136.75.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same period in the previous year, the business earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, sell-side analysts predict that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. IDACORP’s payout ratio is 58.57%.

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.