Bank of New York Mellon Corp Invests $72.14 Million in IDACORP, Inc. $IDA

Key Points

• Bank of New York Mellon acquired 476,822 IDACORP shares worth approximately $72.1 million, giving it a 0.82% stake. Institutional investors collectively own 89.1% of the utility company.
• IDACORP slightly beat quarterly earnings expectations with EPS of $1.79 versus $1.78, though revenue of $469.8 million fell below the $511.9 million estimate. Management maintained fiscal 2026 EPS guidance of $6.30–$6.45.
• The company declared a quarterly dividend of $0.88 per share, equivalent to an annualized $3.52 payout and a 2.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $153.86.

Bank of New York Mellon Corp bought a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 476,822 shares of the energy company's stock, valued at approximately $72,143,000. Bank of New York Mellon Corp owned approximately 0.82% of IDACORP at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. AssuredPartners Investment Advisors LLC lifted its holdings in IDACORP by 5.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company's stock worth $209,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. boosted its holdings in IDACORP by 48.0% in the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company's stock valued at $38,000 after purchasing an additional 98 shares in the last quarter. Sanctuary Advisors LLC increased its stake in IDACORP by 1.6% in the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company's stock valued at $927,000 after purchasing an additional 103 shares during the last quarter. Quadrant Capital Group LLC increased its stake in IDACORP by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company's stock valued at $758,000 after purchasing an additional 106 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in IDACORP by 0.9% during the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company's stock worth $1,477,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

IDACORP Stock Down 0.4%

Shares of NYSE:IDA opened at $137.71 on Wednesday. The stock has a market cap of $7.96 billion, a P/E ratio of 22.80, a P/E/G ratio of 2.38 and a beta of 0.48. The firm has a fifty day moving average price of $145.84 and a 200 day moving average price of $143.52. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91.

IDACORP (NYSE:IDA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. The company had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same period in the previous year, the business posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts predict that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Announces Dividend

The business 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 $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 5th. IDACORP's dividend payout ratio (DPR) is 58.28%.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP 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 transaction, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IDA. Wells Fargo & Company upped their target price on shares of IDACORP from $154.00 to $155.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. 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. Mizuho set a $157.00 price target on shares of IDACORP in a research report on Friday, May 1st. Morgan Stanley decreased their price objective on shares of IDACORP from $156.00 to $151.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Wall Street Zen upgraded shares of IDACORP from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. Six 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $153.86.

IDACORP Company 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.

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