GSA Capital Partners LLP Acquires New Holdings in IDACORP, Inc. $IDA

GSA Capital Partners LLP bought a new stake in IDACORP, Inc. (NYSE:IDA) in the 2nd quarter, Holdings Channel.com reports. The fund bought 8,572 shares of the energy company’s stock, valued at approximately $1,297,000.

Other hedge funds also recently bought and sold shares of the company. Orion Porfolio Solutions LLC boosted its position in shares of IDACORP by 3,215.7% during the second quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock worth $69,784,000 after purchasing an additional 586,221 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of IDACORP in the 3rd quarter valued at $71,031,000. Capital Research Global Investors bought a new stake in shares of IDACORP in the 4th quarter valued at $44,511,000. Invesco Ltd. raised its stake in IDACORP by 139.4% during the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock worth $78,208,000 after buying an additional 344,622 shares during the period. Finally, Life Cycle Investment Partners Ltd acquired a new stake in IDACORP during the 4th quarter worth $38,817,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDACORP

In other 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 directly owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IDA. Wells Fargo & Company boosted their target price on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Morgan Stanley restated an “overweight” rating and issued a $156.00 price target on shares of IDACORP in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd. BTIG Research reiterated a “buy” rating and set a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Finally, Barclays decreased their price objective on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, IDACORP presently has an average rating of “Moderate Buy” and a consensus price target of $154.57.

IDACORP Stock Performance

IDA opened at $141.44 on Tuesday. The business’s 50-day moving average price is $146.16 and its two-hundred day moving average price is $143.24. IDACORP, Inc. has a 1 year low of $122.30 and a 1 year high of $154.91. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 2.46 and a beta of 0.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.01. The company had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.During the same period in the prior year, the firm earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Equities analysts expect that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend payout ratio (DPR) is currently 58.28%.

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.