Tidal Investments LLC Buys 75,509 Shares of IDACORP, Inc. $IDA

Tidal Investments LLC boosted its stake in IDACORP, Inc. (NYSE:IDA) by 52.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,614 shares of the energy company’s stock after purchasing an additional 75,509 shares during the period. Tidal Investments LLC’s holdings in IDACORP were worth $33,076,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in shares of IDACORP by 14,200.9% during the 2nd quarter. California State Teachers Retirement System now owns 9,695,153 shares of the energy company’s stock valued at $1,466,877,000 after purchasing an additional 9,627,359 shares during the period. BlackRock Inc. bought a new position in IDACORP in the second quarter worth approximately $1,033,914,000. Morgan Stanley boosted its stake in shares of IDACORP by 9.9% during the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after acquiring an additional 188,845 shares during the last quarter. State Street Corp increased its stake in shares of IDACORP by 0.6% in the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after purchasing an additional 11,403 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its holdings in IDACORP by 6.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after purchasing an additional 107,131 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IDA. Barclays reduced their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Morgan Stanley reduced their price objective on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. BTIG Research restated a “buy” rating and set a $160.00 target price on shares of IDACORP in a research note on Thursday, July 23rd. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.86.

IDACORP Stock Performance

IDACORP stock opened at $136.29 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. IDACORP, Inc. has a twelve month low of $122.30 and a twelve month high of $154.91. The company’s 50-day moving average price is $143.55 and its 200-day moving average price is $143.29. The company has a market cap of $7.88 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 2.38 and a beta of 0.47.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.01. The business had revenue of $469.80 million for the quarter, compared to the consensus estimate 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 business posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, equities research analysts forecast that IDACORP, Inc. will post 6.38 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, August 5th. IDACORP’s dividend payout ratio (DPR) is 58.28%.

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.