IFM Investors Pty Ltd Buys New Stake in IDACORP, Inc. $IDA

IFM Investors Pty Ltd purchased a new position in IDACORP, Inc. (NYSE:IDA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,854 shares of the energy company’s stock, valued at approximately $551,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley boosted its stake in shares of IDACORP by 9.9% during the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after acquiring an additional 188,845 shares during the last quarter. State Street Corp raised its stake in IDACORP by 0.6% in the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after purchasing an additional 11,403 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in IDACORP by 6.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock valued at $228,797,000 after purchasing an additional 107,131 shares in the last quarter. Jennison Associates LLC lifted its holdings in IDACORP by 8.3% in the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock valued at $187,770,000 after purchasing an additional 113,579 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after purchasing an additional 13,283 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This 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 this hyperlink. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $152.00 target price on shares of IDACORP in a research note on Wednesday, June 24th. Wells Fargo & Company reiterated an “underweight” rating and issued a $121.00 price target on shares of IDACORP in a report on Tuesday, April 21st. Mizuho set a $157.00 price objective on IDACORP in a report on Friday, May 1st. Finally, Barclays lifted their price objective on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Six 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

IDACORP Stock Performance

NYSE IDA opened at $154.63 on Monday. The firm has a market capitalization of $8.57 billion, a P/E ratio of 25.73, a P/E/G ratio of 3.08 and a beta of 0.48. IDACORP, Inc. has a 1-year low of $113.99 and a 1-year high of $154.90. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The business’s 50-day simple moving average is $143.79 and its 200-day simple moving average is $139.55.

IDACORP (NYSE:IDA) last issued its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. The business had revenue of $403.41 million during 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 previous year, the business earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities analysts predict that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The firm also recently disclosed 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. This represents a $3.52 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP’s payout ratio is currently 58.57%.

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.