JPMorgan Chase & Co. Trims Stock Holdings in IDACORP, Inc. $IDA

JPMorgan Chase & Co. lowered its holdings in shares of IDACORP, Inc. (NYSE:IDA) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,269 shares of the energy company’s stock after selling 13,837 shares during the period. JPMorgan Chase & Co. owned 0.56% of IDACORP worth $40,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its stake in IDACORP by 6.3% in the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock valued at $216,264,000 after buying an additional 110,885 shares during the period. Reaves W H & Co. Inc. increased its stake in shares of IDACORP by 8.5% during the third quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock worth $224,745,000 after acquiring an additional 133,836 shares during the period. Alliancebernstein L.P. increased its stake in shares of IDACORP by 1.0% during the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after acquiring an additional 13,283 shares during the period. Jennison Associates LLC raised its holdings in IDACORP by 3.5% during the third quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock worth $181,055,000 after purchasing an additional 46,413 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in IDACORP by 1.5% in the second quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock valued at $117,905,000 after purchasing an additional 15,223 shares during the period. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Julia A. Hilton sold 1,000 shares of IDACORP stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $142.79, for a total value of $142,790.00. Following the completion of the transaction, the vice president owned 2,313 shares of the company’s stock, valued at $330,273.27. This trade represents a 30.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on IDA shares. Barclays boosted their target price on IDACORP from $144.00 to $149.00 and gave the stock an “overweight” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research report on Thursday, January 22nd. Jefferies Financial Group reduced their target price on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. UBS Group upped their price target on shares of IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Finally, Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $129.00 to $118.00 in a research note on Tuesday, January 20th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.22.

IDACORP Price Performance

NYSE:IDA opened at $143.62 on Friday. IDACORP, Inc. has a 52-week low of $108.15 and a 52-week high of $145.94. The company has a market cap of $7.88 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.76 and a beta of 0.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 0.93. The stock’s 50-day simple moving average is $133.40 and its 200 day simple moving average is $130.42.

IDACORP (NYSE:IDA) last posted its quarterly earnings results on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The firm had revenue of $405.24 million during the quarter, compared to the consensus estimate of $533.06 million. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.During the same period last year, the company earned $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 5.81 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Thursday, February 5th. IDACORP’s dividend payout ratio is 59.66%.

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.