Hsbc Holdings PLC Invests $1.47 Million in IDACORP, Inc. $IDA

Key Points

• HSBC Holdings acquired 9,648 IDACORP shares during the second quarter, worth approximately $1.47 million. Institutional investors and hedge funds collectively own 89.1% of the utility company.
• Analyst sentiment remains positive overall, with six Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $153.86.
• IDACORP slightly exceeded quarterly EPS expectations at $1.79, while revenue fell short of forecasts; the company also maintains a quarterly dividend of $0.88, equivalent to a 2.6% yield.

Hsbc Holdings PLC acquired a new position in IDACORP, Inc. (NYSE:IDA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,648 shares of the energy company's stock, valued at approximately $1,470,000.

Several other large investors have also made changes to their positions in the business. PDT Partners LLC acquired a new stake in IDACORP in the 2nd quarter valued at approximately $4,454,000. Palisade Capital Management LP acquired a new position in shares of IDACORP during the second quarter worth approximately $27,118,000. Osterweis Capital Management Inc. acquired a new position in shares of IDACORP during the second quarter worth approximately $25,000. Legal & General Group Plc bought a new stake in shares of IDACORP in the second quarter valued at approximately $40,724,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of IDACORP in the second quarter valued at approximately $6,526,000. Institutional investors and hedge funds own 89.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective 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. Weiss Ratings reiterated a "buy (b)" rating on shares of IDACORP in a research note on Monday, August 3rd. Morgan Stanley decreased their price target on shares of IDACORP from $156.00 to $151.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Wall Street Zen downgraded shares of IDACORP from a "hold" rating to a "sell" rating in a report on Saturday. Finally, BTIG Research restated a "buy" rating and set a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $153.86.

IDACORP Price Performance

Shares of IDA stock opened at $136.32 on Tuesday. IDACORP, Inc. has a 12 month low of $122.30 and a 12 month high of $154.91. The company has a market capitalization of $7.88 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.34 and a beta of 0.48. The stock has a 50 day moving average of $145.43 and a two-hundred day moving average of $143.56. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97.

IDACORP (NYSE:IDA - Get Free Report) last released 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. The business had revenue of $469.80 million for the quarter, compared to analysts' expectations of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same period in the previous year, the business posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 5th. IDACORP's payout ratio is 58.28%.

IDACORP 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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