Hsbc Holdings PLC Purchases New Shares in IDACORP, Inc. $IDA

Hsbc Holdings PLC acquired a new stake in shares of IDACORP, Inc. (NYSE:IDA) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,657 shares of the energy company’s stock, valued at approximately $1,094,000.

Other hedge funds have also recently bought and sold shares of the company. Torren Management LLC bought a new position in shares of IDACORP during the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its position in IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after purchasing an additional 189 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new stake in IDACORP in the 3rd quarter worth about $34,000. Los Angeles Capital Management LLC purchased a new stake in IDACORP in the 4th quarter valued at about $35,000. Finally, Smartleaf Asset Management LLC increased its stake in IDACORP by 62.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 311 shares of the energy company’s stock valued at $36,000 after buying an additional 119 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the sale, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley restated an “overweight” rating and issued a $156.00 target price on shares of IDACORP in a research note on Wednesday, July 22nd. Wells Fargo & Company raised IDACORP from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $121.00 to $154.00 in a research report on Tuesday, July 21st. Barclays lifted their price target on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Saturday. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, IDACORP presently has a consensus rating of “Moderate Buy” and an average price target of $155.14.

IDACORP Stock Up 0.4%

IDA opened at $148.68 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.95 and a beta of 0.48. IDACORP, Inc. has a twelve month low of $120.69 and a twelve month high of $154.91. The company’s 50-day moving average price is $145.55 and its two-hundred day moving average price is $142.22.

IDACORP (NYSE:IDA) last released its earnings results 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 firm had revenue of $403.41 million during 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 period in the prior year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, equities analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend 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.