Fifth Third Bancorp Acquires 20,146 Shares of IDACORP, Inc. $IDA

Fifth Third Bancorp grew its stake in IDACORP, Inc. (NYSE:IDA) by 5,789.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,494 shares of the energy company’s stock after buying an additional 20,146 shares during the quarter. Fifth Third Bancorp’s holdings in IDACORP were worth $2,930,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDA. Orion Porfolio Solutions LLC increased its holdings in IDACORP by 3,215.7% during the 2nd 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 in the last quarter. Zimmer Partners LP acquired a new position in shares of IDACORP during the third quarter worth about $71,031,000. Capital Research Global Investors bought a new position in shares of IDACORP during the fourth quarter worth about $44,511,000. Invesco Ltd. raised its position in IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after buying an additional 344,622 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in IDACORP in the 4th quarter valued at approximately $38,817,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IDA has been the topic of a number of recent research reports. Mizuho set a $157.00 price objective on shares of IDACORP in a report on Friday, May 1st. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $152.00 target price on shares of IDACORP in a research report on Wednesday, June 24th. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company restated an “underweight” rating and issued a $121.00 price objective on shares of IDACORP in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IDACORP presently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

IDACORP Stock Performance

NYSE IDA opened at $147.25 on Tuesday. The company has a market capitalization of $8.16 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.96 and a beta of 0.48. IDACORP, Inc. has a 12-month low of $119.68 and a 12-month high of $154.91. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $144.78 and a two-hundred day moving average price of $141.33.

IDACORP (NYSE:IDA) last posted its quarterly 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 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 firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, August 5th. IDACORP’s payout ratio is 58.57%.

Insider Activity

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

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.