BROOKFIELD Corp ON Boosts Position in IDACORP, Inc. $IDA

BROOKFIELD Corp ON boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 24.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 311,159 shares of the energy company’s stock after purchasing an additional 60,508 shares during the quarter. BROOKFIELD Corp ON owned about 0.56% of IDACORP worth $44,486,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. AssuredPartners Investment Advisors LLC raised its holdings in IDACORP by 5.1% during the fourth quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock worth $209,000 after purchasing an additional 80 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of IDACORP by 48.0% in the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock valued at $38,000 after buying an additional 98 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of IDACORP by 1.6% in the 1st quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company’s stock valued at $927,000 after buying an additional 103 shares during the last quarter. Quadrant Capital Group LLC raised its stake in IDACORP by 1.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock worth $758,000 after acquiring an additional 106 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in IDACORP by 0.9% in the fourth quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after acquiring an additional 106 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDA has been the topic of several research reports. Barclays raised their price objective on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley restated an “overweight” rating and set a $156.00 price target on shares of IDACORP in a research note on Wednesday. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Saturday. Mizuho set a $157.00 price objective on IDACORP in a report on Friday, May 1st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $160.00 target price on shares of IDACORP in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.14.

Insider Transactions at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the stock in a transaction dated 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 directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

IDACORP Stock Performance

NYSE:IDA opened at $148.80 on Monday. The firm’s fifty day moving average price is $145.27 and its 200 day moving average price is $141.94. IDACORP, Inc. has a 1-year low of $120.52 and a 1-year high of $154.91. 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 firm has a market cap of $8.25 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 announced its quarterly earnings data 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. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. 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 company posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, sell-side analysts expect that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders 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 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.