Gabelli Funds LLC Increases Position in IDACORP, Inc. $IDA

Gabelli Funds LLC boosted its holdings in IDACORP, Inc. (NYSE:IDA) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,000 shares of the energy company’s stock after purchasing an additional 6,405 shares during the quarter. Gabelli Funds LLC’s holdings in IDACORP were worth $7,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDA. Alps Advisors Inc. grew its holdings in shares of IDACORP by 31.8% during the third quarter. Alps Advisors Inc. now owns 29,178 shares of the energy company’s stock valued at $3,856,000 after buying an additional 7,036 shares during the last quarter. Phocas Financial Corp. purchased a new stake in shares of IDACORP during the fourth quarter valued at approximately $7,171,000. HighTower Advisors LLC grew its holdings in shares of IDACORP by 122.2% during the third quarter. HighTower Advisors LLC now owns 30,367 shares of the energy company’s stock valued at $4,013,000 after buying an additional 16,699 shares during the last quarter. First National Bank of Omaha purchased a new stake in shares of IDACORP during the third quarter valued at approximately $6,480,000. Finally, Citigroup Inc. grew its holdings in shares of IDACORP by 102.8% during the third quarter. Citigroup Inc. now owns 72,933 shares of the energy company’s stock valued at $9,638,000 after buying an additional 36,969 shares during the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 0.2%

Shares of IDACORP stock opened at $141.65 on Thursday. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 2.83 and a beta of 0.52. The company’s 50 day moving average is $143.34 and its 200 day moving average is $136.07. IDACORP, Inc. has a twelve month low of $111.12 and a twelve month high of $149.73. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01.

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, beating analysts’ consensus estimates of $1.12 by $0.09. The company had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same quarter in the prior year, the firm earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts anticipate that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 5th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. IDACORP’s dividend payout ratio is 58.57%.

Insiders Place Their Bets

In related news, VP Julia A. Hilton sold 1,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total transaction of $142,790.00. Following the transaction, the vice president owned 2,313 shares in the company, valued at $330,273.27. This represents a 30.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on IDA. BTIG Research reiterated a “buy” rating and set a $156.00 price target on shares of IDACORP in a report on Friday, January 30th. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Barclays increased their price target on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Mizuho set a $157.00 price target on shares of IDACORP in a report on Friday, May 1st. Finally, Jefferies Financial Group cut their price target on shares of IDACORP from $152.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, January 28th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $150.00.

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.