BNP Paribas Financial Markets Boosts Stock Position in IDACORP, Inc. $IDA

BNP Paribas Financial Markets lifted its position in shares of IDACORP, Inc. (NYSE:IDA) by 121.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,574 shares of the energy company’s stock after purchasing an additional 63,865 shares during the period. BNP Paribas Financial Markets’ holdings in IDACORP were worth $14,754,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IDA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 worth $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. lifted its holdings in IDACORP by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after buying an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in IDACORP by 8.2% in 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 buying an additional 10,855 shares during the period. American Century Companies Inc. lifted its holdings in IDACORP by 12.6% in the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after buying an additional 2,016 shares during the period. Finally, Invesco Ltd. lifted its holdings in IDACORP by 5.7% in the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after buying an additional 13,297 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on IDA shares. UBS Group raised their price objective on shares of IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Barclays raised their price objective on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley set a $147.00 price objective on shares of IDACORP in a report on Thursday, May 21st. Finally, Mizuho set a $157.00 price objective on shares of IDACORP in a report on Friday, May 1st. Six research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.57.

IDACORP Price Performance

Shares of NYSE IDA opened at $141.29 on Friday. IDACORP, Inc. has a fifty-two week low of $111.12 and a fifty-two week high of $149.73. The company has a 50 day simple moving average of $143.41 and a two-hundred day simple moving average of $136.95. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.82 and a beta of 0.49. 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 announced 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. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The business had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter last year, the firm earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Analysts expect that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Insider Buying and Selling at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This trade 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 is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

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.