Keybank National Association OH Cuts Holdings in IDACORP, Inc. $IDA

Key Points

• Keybank National Association OH cut its IDACORP stake by 28.7% in the first quarter, selling 8,496 shares and leaving it with 21,139 shares valued at about $3.0 million.
• IDACORP posted stronger-than-expected quarterly earnings, reporting $1.21 EPS versus the $1.12 consensus, even though revenue of $403.41 million came in below estimates.
• The company continued to return cash to shareholders with a quarterly dividend of $0.88 per share, equal to an annualized yield of about 2.3%, while analysts currently rate the stock a “Moderate Buy.”

Keybank National Association OH decreased its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 28.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,139 shares of the energy company's stock after selling 8,496 shares during the period. Keybank National Association OH's holdings in IDACORP were worth $3,022,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. IFM Investors Pty Ltd purchased a new position in IDACORP in the first quarter worth $551,000. Louisiana State Employees Retirement System bought a new stake in IDACORP during the first quarter worth about $2,245,000. Kestra Private Wealth Services LLC bought a new stake in IDACORP during the first quarter worth about $242,000. Mountain Pacific Investment Advisers LLC purchased a new position in shares of IDACORP in the 1st quarter worth about $210,000. Finally, SG Americas Securities LLC boosted its holdings in shares of IDACORP by 6.1% in the 1st quarter. SG Americas Securities LLC now owns 46,193 shares of the energy company's stock worth $6,604,000 after purchasing an additional 2,675 shares in the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Price Performance

Shares of IDACORP stock opened at $154.63 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The business's 50 day simple moving average is $143.79 and its two-hundred day simple moving average is $139.55. The stock has a market capitalization of $8.57 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.48. IDACORP, Inc. has a one year low of $113.99 and a one year high of $154.90.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter in the previous year, the company posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP's dividend payout ratio is currently 58.57%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IDA shares. Morgan Stanley reissued an "overweight" rating and set a $152.00 price objective on shares of IDACORP in a report on Wednesday, June 24th. Barclays upped their target price on IDACORP from $159.00 to $167.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Weiss Ratings raised shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 6th. Wells Fargo & Company restated an "underweight" rating and issued a $121.00 price objective on shares of IDACORP in a report on Tuesday, April 21st. Finally, Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, IDACORP presently has an average rating of "Moderate Buy" and a consensus price target of $149.29.

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company's stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by insiders.

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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