GSA Capital Partners LLP Takes $1.30 Million Position in IDACORP, Inc. $IDA

Key Points

• GSA Capital Partners acquired 8,572 shares of IDACORP worth approximately $1.30 million during the second quarter. Institutional investors collectively own 89.1% of the utility company.
• Analysts maintain a generally positive outlook, with six Buy ratings and two Hold ratings, resulting in a consensus “Moderate Buy” rating and an average price target of $154.57.
• IDACORP reported quarterly EPS of $1.79, slightly beating estimates, and declared a quarterly dividend of $0.88 per share, equivalent to a 2.5% annual yield.

GSA Capital Partners LLP purchased a new stake in IDACORP, Inc. (NYSE:IDA - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,572 shares of the energy company's stock, valued at approximately $1,297,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in IDACORP in the 4th quarter valued at about $25,000. Western Wealth Management LLC bought a new position in shares of IDACORP in the first quarter worth about $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company's stock worth $29,000 after purchasing an additional 189 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of IDACORP during the first quarter worth approximately $37,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of IDACORP during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IDA shares. Weiss Ratings reissued a "buy (b)" rating on shares of IDACORP in a report on Monday, August 3rd. Mizuho set a $157.00 price objective on IDACORP in a report on Friday, May 1st. Wells Fargo & Company increased their price objective on IDACORP from $154.00 to $155.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Wall Street Zen upgraded IDACORP from a "sell" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $156.00 target price on shares of IDACORP in a research note on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $154.57.

Insider Activity at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction 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 sale, the vice president directly owned 2,138 shares of the company's stock, valued at $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by company insiders.

IDACORP Stock Down 0.8%

Shares of NYSE:IDA opened at $141.44 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 2.46 and a beta of 0.48. The company has a 50 day moving average of $146.16 and a 200-day moving average of $143.24. IDACORP, Inc. has a one year low of $122.30 and a one year high of $154.91.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million for the quarter, compared to analysts' expectations of $511.87 million. During the same period last year, the firm earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, sell-side analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, August 5th. IDACORP's dividend payout ratio (DPR) is currently 58.28%.

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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