Tidal Investments LLC Purchases 75,509 Shares of IDACORP, Inc. $IDA

Key Points

• Tidal Investments increased its IDACORP stake by 52.8% in the second quarter, purchasing 75,509 additional shares and bringing its total holdings to 218,614 shares, worth approximately $33.1 million. Institutional investors collectively own 89.1% of the company.
• Analysts maintain a generally positive view of IDACORP, with six Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $153.86.
• IDACORP reported quarterly EPS of $1.79, narrowly exceeding estimates, while revenue of $469.8 million fell short of expectations. The company also pays a quarterly dividend of $0.88 per share, yielding about 2.6% annually.

Tidal Investments LLC grew its position in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 52.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,614 shares of the energy company's stock after buying an additional 75,509 shares during the period. Tidal Investments LLC owned 0.38% of IDACORP worth $33,076,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in IDA. Harbour Investments Inc. boosted its position in IDACORP by 48.0% during the fourth quarter. Harbour Investments Inc. now owns 302 shares of the energy company's stock worth $38,000 after purchasing an additional 98 shares during the period. Sanctuary Advisors LLC raised its position in shares of IDACORP by 1.6% in the first quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company's stock valued at $927,000 after purchasing an additional 103 shares during the period. Quadrant Capital Group LLC raised its position in shares of IDACORP by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company's stock valued at $758,000 after purchasing an additional 106 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of IDACORP by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company's stock valued at $1,477,000 after buying an additional 106 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of IDACORP by 62.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company's stock valued at $36,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on IDA shares. Morgan Stanley reduced their price objective on shares of IDACORP from $156.00 to $151.00 and set an "overweight" rating for the company in a research note on Friday, August 21st. Barclays reduced their price target on IDACORP from $167.00 to $162.00 and set an "overweight" rating for the company in a research report on Monday, August 3rd. Wells Fargo & Company raised their target price on IDACORP from $154.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Wall Street Zen raised shares of IDACORP from a "sell" rating to a "hold" rating in a report on Sunday. Finally, BTIG Research reissued a "buy" rating and issued a $160.00 price target on shares of IDACORP in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $153.86.

IDACORP Stock Performance

IDACORP stock opened at $136.29 on Thursday. IDACORP, Inc. has a 1-year low of $122.30 and a 1-year high of $154.91. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average of $143.55 and a 200-day moving average of $143.29. The firm has a market cap of $7.88 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.38 and a beta of 0.47.

IDACORP (NYSE:IDA - Get Free Report) last announced its earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The company had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. During the same quarter in the prior year, the company earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts expect that IDACORP, Inc. will post 6.38 EPS for the current year.

IDACORP Announces Dividend

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

IDACORP Company 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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