Aventail Capital Group LP Reduces Position in IDACORP, Inc. $IDA

Key Points

• Aventail Capital Group LP cut its IDACORP stake by 37.1% in the fourth quarter, selling 14,560 shares and ending with 24,726 shares valued at about $3.13 million.
• IDACORP beat earnings expectations in its latest quarterly report, posting $1.21 EPS versus the $1.12 consensus, though revenue came in below estimates at $403.41 million.
• The company continues to pay a sizable dividend, with a recent quarterly payout of $0.88 per share, equal to an annualized yield of 2.5% and a payout ratio of 58.57%.

Aventail Capital Group LP lessened its holdings in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 37.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,726 shares of the energy company's stock after selling 14,560 shares during the period. Aventail Capital Group LP's holdings in IDACORP were worth $3,129,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Guggenheim Capital LLC boosted its position in shares of IDACORP by 37.7% during the fourth quarter. Guggenheim Capital LLC now owns 9,838 shares of the energy company's stock valued at $1,245,000 after buying an additional 2,696 shares during the period. Cetera Investment Advisers boosted its position in shares of IDACORP by 5.2% during the fourth quarter. Cetera Investment Advisers now owns 16,137 shares of the energy company's stock valued at $2,042,000 after buying an additional 799 shares during the period. Colter Lewis Investment Partners LLC purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $206,000. Jain Global LLC purchased a new stake in shares of IDACORP in the fourth quarter valued at approximately $9,216,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of IDACORP by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 49,217 shares of the energy company's stock valued at $6,229,000 after purchasing an additional 2,524 shares during the period. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Price Performance

NYSE IDA opened at $141.83 on Thursday. 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 stock's fifty day moving average price is $143.20 and its 200 day moving average price is $137.74. IDACORP, Inc. has a 1 year low of $112.85 and a 1 year high of $149.73. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 2.85 and a beta of 0.49.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping 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 company had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. During the same period last year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities research analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Announces Dividend

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

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated 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 $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IDA. 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. Weiss Ratings upgraded IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Barclays boosted their price target on IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen upgraded IDACORP from a "strong sell" rating to a "sell" rating in a report on Tuesday, May 12th. Finally, UBS Group upped their target price on IDACORP from $134.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

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