IDACORP, Inc. $IDA Shares Bought by Entropy Technologies LP

Entropy Technologies LP grew its holdings in IDACORP, Inc. (NYSE:IDA) by 282.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,273 shares of the energy company’s stock after acquiring an additional 17,931 shares during the period. Entropy Technologies LP’s holdings in IDACORP were worth $3,470,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IDA. Orion Porfolio Solutions LLC increased its holdings in IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after purchasing an additional 586,221 shares in the last quarter. Zimmer Partners LP purchased a new stake in shares of IDACORP in the third quarter worth about $71,031,000. Capital Research Global Investors acquired a new stake in shares of IDACORP in the fourth quarter valued at about $44,511,000. Invesco Ltd. grew its stake in shares of IDACORP by 139.4% in the third quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after buying an additional 344,622 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new stake in shares of IDACORP during the 4th quarter valued at about $38,817,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDA has been the topic of several recent research reports. Morgan Stanley reissued an “overweight” rating and set a $156.00 price target on shares of IDACORP in a research report on Wednesday. Wells Fargo & Company upgraded shares of IDACORP from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $121.00 to $154.00 in a research note on Tuesday. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Saturday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.14.

IDACORP Trading Down 0.4%

NYSE:IDA opened at $148.80 on Friday. 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 one year low of $120.52 and a one year high of $154.91. The business’s 50-day simple moving average is $145.27 and its 200 day simple moving average is $141.83. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48.

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

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be given a $0.88 dividend. 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 dividend payout ratio is presently 58.57%.

Insider Activity at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was 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 directly owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

IDACORP 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.