JPMorgan Chase & Co. Sells 13,837 Shares of IDACORP, Inc. $IDA

JPMorgan Chase & Co. lowered its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,269 shares of the energy company’s stock after selling 13,837 shares during the quarter. JPMorgan Chase & Co. owned 0.56% of IDACORP worth $40,209,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Alps Advisors Inc. raised its holdings in IDACORP by 31.8% during the 3rd quarter. Alps Advisors Inc. now owns 29,178 shares of the energy company’s stock worth $3,856,000 after buying an additional 7,036 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of IDACORP in the third quarter valued at approximately $21,486,000. Advisors Asset Management Inc. increased its position in shares of IDACORP by 26.0% during the second quarter. Advisors Asset Management Inc. now owns 10,558 shares of the energy company’s stock worth $1,219,000 after acquiring an additional 2,178 shares in the last quarter. Bahl & Gaynor Inc. acquired a new stake in shares of IDACORP during the second quarter worth $577,000. Finally, SG Americas Securities LLC raised its holdings in shares of IDACORP by 418.2% during the third quarter. SG Americas Securities LLC now owns 37,846 shares of the energy company’s stock worth $5,001,000 after acquiring an additional 30,543 shares during the period. Institutional investors own 89.10% of the company’s stock.

Insiders Place Their Bets

In other IDACORP 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 transaction, the vice president owned 2,313 shares of the company’s stock, valued at $330,273.27. The trade was a 30.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.

IDACORP Stock Down 2.8%

Shares of IDA stock opened at $135.79 on Friday. The firm’s fifty day moving average price is $138.06 and its two-hundred day moving average price is $132.22. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. IDACORP, Inc. has a 1 year low of $108.15 and a 1 year high of $145.94. The firm has a market capitalization of $7.45 billion, a P/E ratio of 23.01, a PEG ratio of 2.64 and a beta of 0.58.

IDACORP (NYSE:IDA) last posted 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. The company had revenue of $405.24 million during the quarter, compared to the consensus estimate of $533.06 million. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. During the same period in the prior year, the business posted $0.70 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities analysts predict that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is currently 59.66%.

Wall Street Analysts Forecast Growth

IDA has been the subject of a number of research analyst reports. Morgan Stanley set a $155.00 target price on shares of IDACORP in a research note on Friday, February 20th. Wells Fargo & Company downgraded IDACORP from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $129.00 to $118.00 in a research note on Tuesday, January 20th. Barclays boosted their price target on IDACORP from $144.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Jefferies Financial Group decreased their price objective on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Finally, Wall Street Zen lowered IDACORP from a “hold” rating to a “sell” rating in a research report on Sunday, February 22nd. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

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.