Reaves W H & Co. Inc. Purchases 107,131 Shares of IDACORP, Inc. $IDA

Key Points

• Reaves W H & Co. Inc. boosted its IDACORP stake by 6.3% in the fourth quarter, buying 107,131 shares and bringing its total holding to 1,807,811 shares, worth about $228.8 million.
• Other major institutional investors also added to their positions, and hedge funds and institutions now own about 89.1% of IDACORP’s stock.
• Analysts currently have a Moderate Buy consensus on IDACORP, with a price target of $148.57, while the company recently beat EPS estimates but slightly missed revenue expectations and pays a quarterly dividend of $0.88 per share.

Reaves W H & Co. Inc. increased its position in IDACORP, Inc. (NYSE:IDA - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,807,811 shares of the energy company's stock after acquiring an additional 107,131 shares during the period. IDACORP makes up 4.0% of Reaves W H & Co. Inc.'s portfolio, making the stock its 6th biggest position. Reaves W H & Co. Inc. owned approximately 3.35% of IDACORP worth $228,797,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. State Street Corp increased its stake in IDACORP by 6.3% during the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company's stock valued at $216,264,000 after buying an additional 110,885 shares during the period. Jennison Associates LLC increased its stake in IDACORP by 8.3% during the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company's stock valued at $187,770,000 after buying an additional 113,579 shares during the period. Alliancebernstein L.P. increased its stake in IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company's stock valued at $162,190,000 after buying an additional 13,283 shares during the period. Geode Capital Management LLC increased its stake in IDACORP by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 1,102,727 shares of the energy company's stock valued at $139,601,000 after buying an additional 54,934 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in IDACORP by 27.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 779,961 shares of the energy company's stock valued at $98,712,000 after buying an additional 166,848 shares during the period. Institutional investors and hedge funds own 89.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays raised their target price on shares of IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Wall Street Zen raised shares of IDACORP from a "strong sell" rating to a "sell" rating in a research note on Tuesday, May 12th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Finally, Morgan Stanley set a $147.00 price objective on shares of IDACORP in a research note on Thursday, May 21st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $148.57.

IDACORP Stock Performance

Shares of IDA opened at $140.17 on Monday. The firm's 50 day moving average is $143.41 and its 200-day moving average is $136.70. The stock has a market capitalization of $7.77 billion, a P/E ratio of 23.32, a P/E/G ratio of 2.80 and a beta of 0.49. 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, Inc. has a 12-month low of $111.12 and a 12-month high of $149.73.

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 (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. The company had revenue of $403.41 million for the quarter, compared to analysts' expectations of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same quarter in the previous year, the company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities research analysts anticipate that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, May 5th. IDACORP's dividend payout ratio (DPR) is presently 58.57%.

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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