IDACORP, Inc. $IDA Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 25.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,865 shares of the energy company’s stock after selling 161,665 shares during the quarter. First Trust Advisors LP owned approximately 0.84% of IDACORP worth $66,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Morgan Stanley lifted its position in shares of IDACORP by 9.9% in the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after acquiring an additional 188,845 shares in the last quarter. State Street Corp increased its stake in shares of IDACORP by 0.6% during the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after acquiring an additional 11,403 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in shares of IDACORP by 6.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after acquiring an additional 107,131 shares during the period. Jennison Associates LLC lifted its holdings in shares of IDACORP by 0.9% during the 1st quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock worth $214,075,000 after acquiring an additional 13,694 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of IDACORP by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after acquiring an additional 13,283 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Insider Activity at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction on Friday, May 29th. The shares were 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 directly owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company’s stock.

IDACORP Price Performance

IDA stock opened at $148.80 on Friday. The firm has a market cap of $8.24 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. IDACORP, Inc. has a 1 year low of $120.52 and a 1 year high of $154.91. The stock has a 50-day simple moving average of $145.27 and a 200-day simple moving average of $141.83.

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

IDACORP Dividend Announcement

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

Analyst Ratings Changes

IDA has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $156.00 price target on shares of IDACORP in a research report on Wednesday. BTIG Research reissued a “buy” rating and set a $160.00 price objective on shares of IDACORP in a research note on Thursday. Mizuho set a $157.00 price objective on IDACORP in a report on Friday, May 1st. Barclays increased their target price on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, IDACORP has an average rating of “Moderate Buy” and a consensus target price of $155.14.

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.