BNP Paribas Financial Markets Purchases 63,865 Shares of IDACORP, Inc. $IDA

Key Points

• BNP Paribas Financial Markets boosted its IDACORP stake by 121.2% in Q4, buying an additional 63,865 shares to bring its total holdings to 116,574 shares worth about $14.75 million.
• IDACORP reported better-than-expected quarterly EPS of $1.21 versus the $1.12 consensus estimate, though revenue of $403.41 million came in below analyst expectations.
• The company declared a quarterly dividend of $0.88 per share, or $3.52 annualized, for a yield of 2.5%, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $148.57.

BNP Paribas Financial Markets lifted its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 121.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,574 shares of the energy company's stock after purchasing an additional 63,865 shares during the quarter. BNP Paribas Financial Markets owned about 0.22% of IDACORP worth $14,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IDA. Alps Advisors Inc. increased its stake in IDACORP by 31.8% in the third quarter. Alps Advisors Inc. now owns 29,178 shares of the energy company's stock valued at $3,856,000 after acquiring an additional 7,036 shares during the last quarter. First National Bank of Omaha bought a new position in IDACORP in the third quarter valued at $6,480,000. Phocas Financial Corp. bought a new position in IDACORP in the fourth quarter valued at $7,171,000. HighTower Advisors LLC increased its stake in IDACORP by 122.2% in the third quarter. HighTower Advisors LLC now owns 30,367 shares of the energy company's stock valued at $4,013,000 after acquiring an additional 16,699 shares during the last quarter. Finally, Citigroup Inc. increased its stake in IDACORP by 102.8% in the third quarter. Citigroup Inc. now owns 72,933 shares of the energy company's stock valued at $9,638,000 after acquiring an additional 36,969 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

IDACORP Stock Performance

NYSE IDA opened at $141.29 on Friday. The company has a 50-day simple moving average of $143.41 and a two-hundred day simple moving average of $136.95. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 12-month low of $111.12 and a 12-month high of $149.73. The firm has a market cap of $7.83 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.82 and a beta of 0.49.

IDACORP (NYSE:IDA - Get Free Report) 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 net margin of 18.60% and a return on equity of 9.40%. The business had revenue of $403.41 million during the quarter, compared to analyst estimates of $437.51 million. During the same period in the prior year, the business posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. UBS Group increased their target price on IDACORP from $134.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. Mizuho set a $157.00 target price on IDACORP in a research note on Friday, May 1st. Wall Street Zen raised IDACORP from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 12th. Barclays increased their target price on IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $121.00 target price on shares of IDACORP in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $148.57.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the company's 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 completion of the sale, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

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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