IDACORP, Inc. $IDA Stock Position Raised by SummitTX Capital L.P.

SummitTX Capital L.P. grew its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 184.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,776 shares of the energy company's stock after buying an additional 16,072 shares during the quarter. SummitTX Capital L.P.'s holdings in IDACORP were worth $3,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in IDACORP by 79.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company's stock valued at $690,000 after acquiring an additional 2,625 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of IDACORP by 6.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company's stock valued at $39,805,000 after purchasing an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of IDACORP by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company's stock valued at $16,698,000 after purchasing an additional 10,855 shares during the last quarter. American Century Companies Inc. boosted its holdings in IDACORP by 12.6% in the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company's stock worth $2,082,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. increased its position in IDACORP by 5.7% during the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company's stock worth $28,538,000 after buying an additional 13,297 shares during the last quarter. Institutional investors own 89.10% of the company's stock.

Insider Buying and Selling at IDACORP

In other 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 sale, the vice president owned 2,138 shares of the company's stock, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

IDACORP Price Performance

NYSE:IDA opened at $147.79 on Tuesday. The stock has a market cap of $8.19 billion, a P/E ratio of 24.59, a PEG ratio of 2.96 and a beta of 0.48. IDACORP, Inc. has a one year low of $120.52 and a one year high of $154.91. The company has a fifty day moving average price of $145.41 and a 200 day moving average price of $142.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95.

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, beating the consensus estimate of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The business had revenue of $403.41 million during the quarter, compared to analysts' expectations of $437.51 million. During the same quarter last year, the company earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be given a $0.88 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. IDACORP's dividend payout ratio (DPR) is currently 58.57%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IDA. BTIG Research reaffirmed a "buy" rating and issued a $160.00 price target on shares of IDACORP in a research report on Thursday. Weiss Ratings raised IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Mizuho set a $157.00 price objective on IDACORP in a research note on Friday, May 1st. Wall Street Zen upgraded IDACORP from a "strong sell" rating to a "sell" rating in a report on Saturday. Finally, Barclays upped their target price on IDACORP from $159.00 to $167.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, IDACORP presently has an average rating of "Moderate Buy" and an average target price of $155.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.