IDACORP, Inc. $IDA Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 5,789.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,494 shares of the energy company’s stock after acquiring an additional 20,146 shares during the period. Fifth Third Bancorp’s holdings in IDACORP were worth $2,930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of IDA. Phocas Financial Corp. acquired a new stake in IDACORP in the 4th quarter valued at about $7,171,000. Reaves W H & Co. Inc. boosted its position in 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. GW&K Investment Management LLC grew its position in IDACORP by 7.1% during the fourth quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company’s stock valued at $90,741,000 after purchasing an additional 47,248 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of IDACORP by 8.3% during the 4th quarter. Jennison Associates LLC now owns 1,483,648 shares of the energy company’s stock valued at $187,770,000 after acquiring an additional 113,579 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new position in IDACORP in the 4th quarter worth about $4,385,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Wall Street Analyst Weigh In

IDA has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $152.00 price target on shares of IDACORP in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Barclays increased their price objective 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. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.29.

Insiders Place Their Bets

In other IDACORP 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 transaction of $211,425.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by corporate insiders.

IDACORP Stock Down 1.0%

Shares of IDA opened at $147.25 on Tuesday. The business’s fifty day moving average price is $144.78 and its two-hundred day moving average price is $141.33. The firm has a market capitalization of $8.16 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.96 and a beta of 0.48. IDACORP, Inc. has a 52 week low of $119.68 and a 52 week high of $154.91. 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 (NYSE:IDA) last posted its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The business had revenue of $403.41 million for the quarter, compared to analysts’ expectations of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter last year, the business earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be paid 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 58.57%.

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.