Alliancebernstein L.P. Sells 38,112 Shares of IDACORP, Inc. $IDA

Alliancebernstein L.P. lowered its stake in shares of IDACORP, Inc. (NYSE:IDA) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,366,735 shares of the energy company’s stock after selling 38,112 shares during the quarter. Alliancebernstein L.P. owned about 2.53% of IDACORP worth $180,614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of IDACORP by 6.3% during the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after purchasing an additional 110,885 shares during the period. Reaves W H & Co. Inc. grew its stake in shares of 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 purchasing an additional 133,836 shares during the period. Jennison Associates LLC boosted its stake in IDACORP by 3.5% in the 3rd quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock valued at $181,055,000 after buying an additional 46,413 shares in the last quarter. Geode Capital Management LLC grew its position in IDACORP by 1.5% in the second quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock valued at $117,905,000 after acquiring an additional 15,223 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of IDACORP by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 743,550 shares of the energy company’s stock valued at $98,256,000 after acquiring an additional 13,030 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Price Performance

Shares of IDA stock opened at $142.67 on Tuesday. IDACORP, Inc. has a 12-month low of $108.15 and a 12-month high of $145.94. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.77 and a beta of 0.58. The firm has a fifty day moving average of $137.12 and a 200-day moving average of $131.86.

IDACORP (NYSE:IDA) last issued 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. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. The business had revenue of $405.24 million for the quarter, compared to analyst estimates of $533.06 million. During the same period last year, the business posted $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities research analysts forecast that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.5%. IDACORP’s dividend payout ratio is 59.66%.

Insider Buying and Selling 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 transaction of $142,790.00. Following the transaction, the vice president owned 2,313 shares in the company, valued at $330,273.27. This represents a 30.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

IDA has been the topic of several research reports. Wells Fargo & Company downgraded shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $129.00 to $118.00 in a research report on Tuesday, January 20th. BTIG Research reissued a “buy” rating and set a $156.00 price objective on shares of IDACORP in a report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. UBS Group raised their target price on shares of IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Barclays increased their price target on IDACORP from $144.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.00.

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.