Truist Financial Corp Has $1.41 Million Holdings in IDACORP, Inc. $IDA

Key Points

• Truist Financial reduced its IDACORP stake by 61.9% in the fourth quarter, selling 18,144 shares and ending with 11,164 shares valued at about $1.41 million.
• Wall Street sentiment remains positive: analysts have issued mostly Buy ratings, with a consensus Moderate Buy and an average price target of $150 per share.
• IDACORP reported strong quarterly earnings of $1.21 per share, beat estimates, and also announced a quarterly dividend of $0.88 per share, equal to a 2.5% yield.

Truist Financial Corp cut its stake in shares of IDACORP, Inc. (NYSE:IDA - Free Report) by 61.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,164 shares of the energy company's stock after selling 18,144 shares during the period. Truist Financial Corp's holdings in IDACORP were worth $1,413,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in IDACORP during the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd lifted its position in IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company's stock worth $29,000 after acquiring an additional 189 shares during the last quarter. Quent Capital LLC acquired a new stake in IDACORP during the third quarter worth approximately $30,000. Measured Wealth Private Client Group LLC acquired a new stake in IDACORP during the third quarter worth approximately $34,000. Finally, Smartleaf Asset Management LLC lifted its position in IDACORP by 62.0% during the second quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company's stock worth $36,000 after acquiring an additional 119 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IDA. Mizuho set a $157.00 price target on shares of IDACORP in a research report on Friday, May 1st. UBS Group lifted their price target on shares of IDACORP from $134.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, February 20th. Barclays lifted their price target on shares of IDACORP from $159.00 to $167.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of IDACORP from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $157.00 price target on shares of IDACORP in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $150.00.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP Julia A. Hilton sold 1,000 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total transaction of $142,790.00. Following the sale, the vice president owned 2,313 shares of the company's stock, valued at approximately $330,273.27. The trade was a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.33% of the company's stock.

IDACORP Stock Down 1.9%

Shares of IDA opened at $139.81 on Friday. IDACORP, Inc. has a one year low of $111.12 and a one year high of $149.73. The company has a market cap of $7.75 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.84 and a beta of 0.52. 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 firm has a 50 day simple moving average of $143.41 and a two-hundred day simple moving average of $135.90.

IDACORP (NYSE:IDA - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same period in the previous year, the business earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts forecast that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

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

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.

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