BI Asset Management Fondsmaeglerselskab A S Boosts Stake in IDACORP, Inc. $IDA

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its stake in IDACORP by 190.4% in the first quarter, ending with 45,417 shares worth about $6.5 million.
• IDACORP reported better-than-expected quarterly earnings of $1.21 per share, topping estimates, and it reaffirmed full-year guidance with FY 2026 EPS guidance of 6.25 to 6.45.
• The company also paid a quarterly dividend of $0.88 per share, or $3.52 annually, for a yield of about 2.5%; analyst sentiment remains a Moderate Buy with an average target price of $148.57.

BI Asset Management Fondsmaeglerselskab A S increased its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 190.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 45,417 shares of the energy company's stock after purchasing an additional 29,780 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of IDACORP worth $6,493,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in IDACORP by 11.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,770 shares of the energy company's stock valued at $730,000 after purchasing an additional 573 shares during the last quarter. Corient Private Wealth LLC grew its position in IDACORP by 55.0% during the 4th quarter. Corient Private Wealth LLC now owns 8,538 shares of the energy company's stock worth $1,081,000 after purchasing an additional 3,030 shares during the last quarter. Union Savings Bank acquired a new position in IDACORP in the fourth quarter valued at $95,000. SHP Wealth Management acquired a new position in IDACORP in the fourth quarter valued at $38,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of IDACORP by 134.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 513 shares of the energy company's stock valued at $65,000 after buying an additional 294 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Stock Up 0.2%

IDA stock opened at $142.66 on Tuesday. IDACORP, Inc. has a one year low of $113.06 and a one year high of $149.73. The stock has a market capitalization of $7.90 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 2.84 and a beta of 0.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. The company has a fifty day moving average of $142.94 and a 200-day moving average of $137.99.

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

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 5th. IDACORP's payout ratio is currently 58.57%.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business'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 transaction of $211,425.00. Following the transaction, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IDA shares. Wall Street Zen upgraded shares of IDACORP from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 12th. Wells Fargo & Company restated an "underweight" rating and issued a $121.00 price target on shares of IDACORP in a research report on Tuesday, April 21st. Barclays upped their price objective on IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Morgan Stanley set a $147.00 price objective on IDACORP in a research report on Thursday, May 21st. Finally, Weiss Ratings upgraded IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.57.

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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