Bank of America Corp DE Lowers Stake in IDACORP, Inc. $IDA

Key Points

• Bank of America reduced its IDACORP stake by 5.3% in the first quarter, selling 19,085 shares and retaining 340,389 shares valued at approximately $48.7 million. Institutional investors collectively own 89.1% of the utility company.
• IDACORP reported quarterly EPS of $1.79, slightly exceeding estimates, although revenue of $469.8 million fell short of expectations. The company maintained fiscal 2026 EPS guidance of $6.30–$6.45.
• IDACORP declared a quarterly dividend of $0.88 per share, equivalent to an annualized $3.52 dividend and a 2.5% yield. Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $154.57.

Bank of America Corp DE lessened its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 340,389 shares of the energy company's stock after selling 19,085 shares during the quarter. Bank of America Corp DE owned approximately 0.61% of IDACORP worth $48,665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley raised its stake in shares of IDACORP by 9.9% during the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company's stock worth $266,275,000 after acquiring an additional 188,845 shares in the last quarter. State Street Corp boosted its stake in IDACORP by 0.6% in the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company's stock valued at $238,939,000 after acquiring an additional 11,403 shares in the last quarter. Reaves W H & Co. Inc. grew its holdings in IDACORP by 6.3% in the fourth 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 grew its holdings in IDACORP by 0.9% in the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company's stock worth $214,075,000 after purchasing an additional 13,694 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of IDACORP by 1.0% during the second 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 in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Trading Up 1.0%

Shares of NYSE:IDA opened at $141.58 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a 12-month low of $122.30 and a 12-month high of $154.91. The business has a 50 day moving average of $146.01 and a two-hundred day moving average of $143.05. The company has a market capitalization of $8.19 billion, a PE ratio of 23.44, a PEG ratio of 2.41 and a beta of 0.48.

IDACORP (NYSE:IDA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.01. The business had revenue of $469.80 million for the quarter, compared to analysts' expectations of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same quarter last year, the company earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP's dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at IDACORP

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on IDA. BTIG Research reaffirmed a "buy" rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday, July 23rd. Morgan Stanley reissued an "overweight" rating and set a $156.00 target price on shares of IDACORP in a research report on Wednesday, July 22nd. Barclays cut their price target on shares of IDACORP from $167.00 to $162.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $154.57.

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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