IDACORP, Inc. $IDA Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 25.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 462,865 shares of the energy company’s stock after selling 161,665 shares during the quarter. First Trust Advisors LP’s holdings in IDACORP were worth $66,176,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its holdings in IDACORP by 9.9% in the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after purchasing an additional 188,845 shares during the last quarter. State Street Corp increased its holdings in IDACORP by 0.6% during the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after purchasing an additional 11,403 shares during the last quarter. Reaves W H & Co. Inc. increased its holdings in IDACORP by 6.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after purchasing an additional 107,131 shares during the last quarter. Jennison Associates LLC raised its position in shares of IDACORP by 0.9% in the 1st quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock valued at $214,075,000 after purchasing an additional 13,694 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 valued at $162,190,000 after buying an additional 13,283 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

Shares of IDA opened at $148.80 on Friday. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.96 and a beta of 0.48. The stock has a 50 day moving average of $145.27 and a 200-day moving average of $141.83. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 52 week low of $120.52 and a 52 week high of $154.91.

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

IDACORP Dividend Announcement

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

Insider Buying and Selling at IDACORP

In other IDACORP 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 transaction of $211,425.00. Following the sale, the vice president directly owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

IDA has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st. Barclays raised their price objective on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wells Fargo & Company raised shares of IDACORP from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $121.00 to $154.00 in a research report on Tuesday. Finally, Morgan Stanley restated an “overweight” rating and issued a $156.00 target price on shares of IDACORP in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.14.

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.