Allspring Global Investments Holdings LLC Purchases 75,669 Shares of IDACORP, Inc. $IDA

Allspring Global Investments Holdings LLC lifted its position in IDACORP, Inc. (NYSE:IDA) by 4,427.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,378 shares of the energy company’s stock after purchasing an additional 75,669 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of IDACORP worth $11,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in IDACORP by 79.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after acquiring an additional 2,625 shares during the period. Goldman Sachs Group Inc. grew its position in shares of IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after purchasing an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after purchasing an additional 10,855 shares in the last quarter. American Century Companies Inc. raised its stake in IDACORP by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock valued at $2,082,000 after purchasing an additional 2,016 shares during the period. Finally, Invesco Ltd. raised its stake in IDACORP by 5.7% during the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock valued at $28,538,000 after purchasing an additional 13,297 shares during the period. 89.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on IDA shares. Mizuho set a $157.00 price target on IDACORP in a report on Friday, May 1st. Wells Fargo & Company upgraded shares of IDACORP from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $121.00 to $154.00 in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $156.00 target price on shares of IDACORP in a report on Wednesday. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Finally, 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. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.57.

IDACORP Price Performance

Shares of IDACORP stock opened at $148.81 on Thursday. The firm has a market cap of $8.25 billion, a PE ratio of 24.76, a PEG ratio of 2.91 and a beta of 0.48. The stock has a 50 day moving average of $144.95 and a 200 day moving average of $141.62. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. IDACORP, Inc. has a 12 month low of $120.52 and a 12 month high of $154.91.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $403.41 million during the quarter, compared to analyst estimates of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same period last year, the firm posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, research analysts expect that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s dividend payout ratio is 58.57%.

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the completion of the transaction, the vice president owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

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.