Geode Capital Management LLC Raises Stock Holdings in IDACORP, Inc. $IDA

Key Points

• Geode Capital Management increased its IDACORP stake by 5.2% in the fourth quarter, ending with 1.10 million shares valued at about $139.6 million.
• Analyst sentiment is generally positive: IDACORP has a Moderate Buy consensus with an average price target of $148.57, while Barclays recently raised its target to $167.
• IDACORP reported stronger-than-expected quarterly EPS of $1.21, and it also paid a quarterly dividend of $0.88 per share, equal to a 2.5% annualized yield.

Geode Capital Management LLC grew its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,102,727 shares of the energy company's stock after acquiring an additional 54,934 shares during the quarter. Geode Capital Management LLC owned about 2.04% of IDACORP worth $139,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alps Advisors Inc. lifted its position 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 shares of IDACORP in the third quarter valued at $6,480,000. Phocas Financial Corp. purchased a new stake in shares of IDACORP in the fourth quarter valued at $7,171,000. HighTower Advisors LLC lifted its position in shares of 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 in the last quarter. Finally, Citigroup Inc. lifted its position in shares of 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 in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on IDA shares. Barclays upped their price objective on IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Morgan Stanley set a $147.00 price objective on IDACORP in a research report on Thursday, May 21st. Mizuho set a $157.00 price objective on IDACORP in a research report on Friday, May 1st. Weiss Ratings upgraded IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $121.00 price objective on shares of IDACORP in a research report on Tuesday, April 21st. Six 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $148.57.

IDACORP Stock Performance

NYSE IDA opened at $138.70 on Friday. The business's 50-day moving average price is $143.35 and its 200 day moving average price is $136.92. IDACORP, Inc. has a twelve month low of $111.12 and a twelve month high of $149.73. The company has a market capitalization of $7.69 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01.

IDACORP (NYSE:IDA - Get Free Report) last released its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million for the quarter, compared to the consensus estimate 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, research analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

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

Insiders Place Their Bets

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated 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 directly owned 2,138 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

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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