Commerce Bank Purchases New Position in IDACORP, Inc. $IDA

Commerce Bank acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,511 shares of the energy company's stock, valued at approximately $1,590,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDA. AssuredPartners Investment Advisors LLC increased its position in shares of IDACORP by 5.1% during the fourth quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company's stock worth $209,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. lifted its position in shares of IDACORP by 48.0% in the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company's stock worth $38,000 after purchasing an additional 98 shares during the period. Sanctuary Advisors LLC increased its position in IDACORP by 1.6% during the 1st quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company's stock valued at $927,000 after buying an additional 103 shares in the last quarter. Quadrant Capital Group LLC raised 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 buying an additional 106 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in IDACORP by 0.9% in the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company's stock valued at $1,477,000 after buying an additional 106 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDA has been the topic of a number of research analyst reports. Barclays dropped their price target on IDACORP from $167.00 to $162.00 and set an "overweight" rating on the stock in a research note on Monday, August 3rd. 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 report on Friday. Wells Fargo & Company lifted their target price 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. Mizuho set a $157.00 price target on shares of IDACORP in a research note on Friday, May 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of IDACORP in a report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.86.

IDACORP Stock Down 0.4%

IDA stock opened at $137.71 on Wednesday. The company has a market capitalization of $7.96 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 2.38 and a beta of 0.48. IDACORP, Inc. has a 12 month low of $122.30 and a 12 month high of $154.91. The firm's fifty day simple moving average is $145.84 and its 200-day simple moving average is $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 (NYSE:IDA - Get Free Report) last issued its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.01. The firm had revenue of $469.80 million during 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 posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities research analysts forecast that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 2.6%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP's dividend payout ratio (DPR) is 58.28%.

Insider Buying and Selling

In related 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 transaction of $211,425.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company 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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