M&T Bank Corp Buys 125,387 Shares of IDACORP, Inc. $IDA

Key Points

• M&T Bank Corp boosted its stake in IDACORP by 1,373.1% in Q4, buying 125,387 shares to hold 134,519 shares worth about $17.03 million (0.25% of the company).
• IDACORP set FY 2026 guidance at $6.25–$6.45 EPS after reporting $0.78 EPS for the quarter (vs. $0.74 expected), with analysts' consensus forecasting $6.39 for the year.
• Quarterly dividend announced: $0.88 per share ($3.52 annualized, ~2.4% yield), with record date May 5 and payment on June 1.

M&T Bank Corp grew its stake in IDACORP, Inc. (NYSE:IDA - Free Report) by 1,373.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,519 shares of the energy company's stock after acquiring an additional 125,387 shares during the period. M&T Bank Corp owned 0.25% of IDACORP worth $17,025,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of IDACORP by 2.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 76,871 shares of the energy company's stock valued at $9,729,000 after acquiring an additional 1,770 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of IDACORP by 6.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,097 shares of the energy company's stock valued at $1,531,000 after acquiring an additional 751 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of IDACORP by 34.4% in the 4th quarter. Merit Financial Group LLC now owns 2,267 shares of the energy company's stock valued at $287,000 after acquiring an additional 580 shares in the last quarter. CWM LLC grew its holdings in shares of IDACORP by 6.4% in the 4th quarter. CWM LLC now owns 3,627 shares of the energy company's stock valued at $459,000 after acquiring an additional 218 shares in the last quarter. Finally, Phocas Financial Corp. bought a new position in shares of IDACORP in the 4th quarter valued at about $7,171,000. Institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

IDA has been the subject of several analyst reports. UBS Group raised their target price on shares of IDACORP from $134.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. Jefferies Financial Group decreased their target price on shares of IDACORP from $152.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, January 28th. Wells Fargo & Company reissued an "underweight" rating and issued a $121.00 target price on shares of IDACORP in a research note on Tuesday. Wall Street Zen cut shares of IDACORP from a "sell" rating to a "strong sell" rating in a research note on Saturday, April 18th. Finally, Barclays raised their target price on shares of IDACORP from $149.00 to $159.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, IDACORP has a consensus rating of "Moderate Buy" and a consensus target price of $145.00.

Insider Activity

In other news, VP Julia A. Hilton sold 1,000 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the completion of the sale, the vice president owned 2,313 shares in the company, valued at $330,273.27. The trade was a 30.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

IDACORP Trading Up 4.0%

IDA stock opened at $149.23 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.93 and a quick ratio of 0.68. The company has a fifty day moving average price of $143.01 and a two-hundred day moving average price of $135.01. IDACORP, Inc. has a one year low of $108.15 and a one year high of $149.73. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 2.86 and a beta of 0.54.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.04. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. The firm had revenue of $405.24 million during the quarter, compared to analysts' expectations of $533.06 million. During the same period in the previous year, the business posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities analysts anticipate that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, May 5th. IDACORP's payout ratio is currently 59.66%.

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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