CoreCap Advisors LLC Makes New Investment in IDACORP, Inc. $IDA

CoreCap Advisors LLC purchased a new stake in IDACORP, Inc. (NYSE:IDA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 34,645 shares of the energy company’s stock, valued at approximately $4,385,000. CoreCap Advisors LLC owned approximately 0.06% of IDACORP as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in IDA. Caitong International Asset Management Co. Ltd boosted its stake in IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after purchasing an additional 189 shares during the period. Quent Capital LLC bought a new stake in IDACORP in the 3rd quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in IDACORP during the 3rd quarter worth approximately $34,000. Smartleaf Asset Management LLC grew 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 worth $36,000 after acquiring an additional 119 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of IDACORP by 160.2% in the third quarter. Farther Finance Advisors LLC now owns 458 shares of the energy company’s stock valued at $61,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Jefferies Financial Group cut their price objective on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, January 28th. Mizuho lifted their price target on shares of IDACORP from $141.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Barclays raised their price objective on IDACORP from $144.00 to $149.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Finally, UBS Group upped their target price on IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

IDACORP Trading Up 0.5%

IDA stock opened at $140.35 on Friday. IDACORP, Inc. has a one year low of $108.15 and a one year high of $145.94. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 2.72 and a beta of 0.58. The company has a fifty day moving average price of $138.76 and a two-hundred day moving average price of $132.65. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.93 and a quick ratio of 0.68.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. The company had revenue of $405.24 million for the quarter, compared to analyst estimates 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 firm earned $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 5.81 EPS for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Thursday, February 5th were paid a $0.88 dividend. The ex-dividend date was Thursday, February 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s dividend payout ratio is 59.66%.

Insider Activity at IDACORP

In related news, VP Julia A. Hilton sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $142.79, for a total transaction of $142,790.00. Following the transaction, the vice president directly owned 2,313 shares of the company’s stock, valued at approximately $330,273.27. This trade represents a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

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.