BW Gestao de Investimentos Ltda. Invests $11.48 Million in IDACORP, Inc. $IDA

Key Points

• BW Gestao de Investimentos Ltda. disclosed a new fourth-quarter position in IDACORP, buying 90,740 shares worth about $11.48 million, giving it roughly 0.17% ownership.
• Institutional interest in IDACORP remains high, with several funds increasing or initiating stakes; overall, about 89.10% of the stock is owned by institutional investors.
• IDACORP reported better-than-expected Q1 earnings of $1.21 per share, maintained a quarterly dividend of $0.88 per share, and analysts currently view the stock as a Moderate Buy with an average price target of $148.57.

BW Gestao de Investimentos Ltda. bought a new position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 90,740 shares of the energy company's stock, valued at approximately $11,484,000. BW Gestao de Investimentos Ltda. owned about 0.17% of IDACORP at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Alps Advisors Inc. raised its holdings in shares of 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 in the last quarter. First National Bank of Omaha purchased a new stake in IDACORP in the third quarter worth about $6,480,000. Phocas Financial Corp. purchased a new stake in IDACORP in the fourth quarter worth about $7,171,000. HighTower Advisors LLC lifted 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 worth $4,013,000 after acquiring an additional 16,699 shares during the period. Finally, Citigroup Inc. lifted its stake in IDACORP by 102.8% in the third quarter. Citigroup Inc. now owns 72,933 shares of the energy company's stock worth $9,638,000 after acquiring an additional 36,969 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

IDACORP Price Performance

Shares of NYSE IDA opened at $135.10 on Tuesday. The business's 50 day moving average price is $143.32 and its 200 day moving average price is $136.75. The firm has a market cap of $7.49 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.80 and a beta of 0.49. IDACORP, Inc. has a 52 week low of $111.12 and a 52 week high of $149.73. 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 (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. The firm had revenue of $403.41 million for the quarter, compared to analyst estimates of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter in the prior year, the firm earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, sell-side analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, May 5th. IDACORP's dividend payout ratio is currently 58.57%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IDA. Morgan Stanley set a $147.00 price objective on shares of IDACORP in a research note on Thursday, May 21st. Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st. Weiss Ratings raised shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Finally, UBS Group upped their price objective on shares of IDACORP from $134.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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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