Sit Investment Associates Inc. Acquires New Stake in IDACORP, Inc. $IDA

Sit Investment Associates Inc. purchased a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,310 shares of the energy company’s stock, valued at approximately $1,178,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Phocas Financial Corp. purchased a new position in shares of IDACORP during the 4th quarter valued at $7,171,000. HighTower Advisors LLC raised its position in shares of IDACORP by 122.2% in the third quarter. HighTower Advisors LLC now owns 30,367 shares of the energy company’s stock worth $4,013,000 after buying an additional 16,699 shares in the last quarter. Citigroup Inc. boosted its stake in IDACORP by 102.8% during the third quarter. Citigroup Inc. now owns 72,933 shares of the energy company’s stock valued at $9,638,000 after buying an additional 36,969 shares during the period. Mirabella Financial Services LLP boosted its stake in IDACORP by 173.7% during the third quarter. Mirabella Financial Services LLP now owns 19,187 shares of the energy company’s stock valued at $2,531,000 after buying an additional 12,178 shares during the period. Finally, CoreCap Advisors LLC purchased a new position in IDACORP during the fourth quarter worth about $4,385,000. Institutional investors own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA opened at $142.11 on Friday. 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 one year low of $113.06 and a one year high of $149.73. The firm has a market capitalization of $7.87 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 2.84 and a beta of 0.49. The company has a 50-day simple moving average of $143.05 and a two-hundred day simple moving average of $137.84.

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

IDACORP Announces Dividend

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

Insider Transactions at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

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

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.