IDACORP, Inc. $IDA Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its position in shares of IDACORP, Inc. (NYSE:IDA) by 102.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,933 shares of the energy company’s stock after purchasing an additional 36,969 shares during the period. Citigroup Inc. owned approximately 0.13% of IDACORP worth $9,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IDA. State Street Corp raised its holdings in shares of IDACORP by 6.3% in the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock valued at $216,264,000 after buying an additional 110,885 shares during the period. Reaves W H & Co. Inc. grew its position in IDACORP by 8.5% in the 3rd quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock valued at $224,745,000 after acquiring an additional 133,836 shares in the last quarter. Alliancebernstein L.P. grew its position in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after acquiring an additional 13,283 shares in the last quarter. Jennison Associates LLC increased its stake in IDACORP by 3.5% during the third quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock worth $181,055,000 after purchasing an additional 46,413 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of IDACORP by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock worth $117,905,000 after purchasing an additional 15,223 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP Price Performance

Shares of IDA opened at $143.92 on Monday. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.79 and a beta of 0.58. The firm’s fifty day simple moving average is $133.76 and its 200-day simple moving average is $130.62. IDACORP, Inc. has a twelve month low of $108.15 and a twelve month high of $145.94. 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 (NYSE:IDA) last posted its earnings results on Thursday, February 19th. The energy company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $405.24 million for the quarter, compared to analyst estimates of $533.06 million. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.During the same quarter in the prior year, the company posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Thursday, February 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s payout ratio is presently 59.66%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IDA. Morgan Stanley set a $155.00 price objective on shares of IDACORP in a report on Friday, February 20th. Mizuho increased their target price on shares of IDACORP from $141.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. UBS Group raised 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut IDACORP from a “hold” rating to a “sell” rating in a research note on Sunday, February 22nd. Eight research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.22.

Insider Transactions at IDACORP

In other IDACORP news, VP Julia A. Hilton sold 1,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total value of $142,790.00. Following the transaction, the vice president directly owned 2,313 shares in the company, valued at $330,273.27. This represents a 30.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.47% of the stock is owned by company 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.