Mizuho Markets Americas LLC Purchases New Position in IDACORP, Inc. $IDA

Mizuho Markets Americas LLC bought a new stake in IDACORP, Inc. (NYSE:IDA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 75,000 shares of the energy company’s stock, valued at approximately $10,723,000.

Other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 stake in shares of 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of IDACORP by 8.2% during the 1st 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. boosted its holdings in shares of IDACORP by 12.6% during the 2nd 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. boosted its holdings in shares of IDACORP by 5.7% during the 2nd 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. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Trading Up 0.5%

IDA opened at $149.44 on Friday. The firm has a 50 day simple moving average of $145.09 and a 200 day simple moving average of $141.78. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. IDACORP, Inc. has a fifty-two week low of $120.52 and a fifty-two week high of $154.91.

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

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend payout ratio is presently 58.57%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IDA shares. Morgan Stanley restated an “overweight” rating and set a $156.00 price target on shares of IDACORP in a report on Wednesday. Mizuho set a $157.00 target price on IDACORP in a report on Friday, May 1st. Barclays upped their target price 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 upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $121.00 to $154.00 in a research note on Tuesday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, IDACORP currently has an average rating of “Moderate Buy” and a consensus price target of $155.14.

Insiders Place Their Bets

In other news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP 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 transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.