9,310 Shares in IDACORP, Inc. $IDA Acquired by Sit Investment Associates Inc.

Sit Investment Associates Inc. bought a new position in shares of IDACORP, Inc. (NYSE:IDA) during the fourth quarter, HoldingsChannel.com reports. The firm bought 9,310 shares of the energy company’s stock, valued at approximately $1,178,000.

Several other large investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new position in shares of IDACORP in the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares during the period. Measured Wealth Private Client Group LLC bought a new stake in shares of IDACORP during the 3rd quarter valued at $34,000. Los Angeles Capital Management LLC purchased a new position in shares of IDACORP during the 4th quarter valued at $35,000. Finally, Smartleaf Asset Management LLC boosted its holdings in IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock worth $36,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Trading Down 0.2%

IDA opened at $142.11 on Friday. The firm has a market cap of $7.87 billion, a P/E ratio of 23.65, a P/E/G ratio of 2.84 and a beta of 0.49. IDACORP, Inc. has a 12 month low of $113.06 and a 12 month high of $149.73. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock has a 50-day moving average of $143.05 and a 200 day moving average of $137.84.

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

IDACORP Announces Dividend

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

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction 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 sale, the vice president 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 is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Barclays boosted their price objective on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wells Fargo & Company reiterated an “underweight” rating and set a $121.00 target price on shares of IDACORP in a research report on Tuesday, April 21st. Morgan Stanley set a $147.00 target price on IDACORP in a research note on Thursday, May 21st. Finally, Mizuho set a $157.00 price target on IDACORP in a report on Friday, May 1st. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.57.

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.