Wood Tarver Financial Group LLC Takes Position in IDACORP, Inc. $IDA

Wood Tarver Financial Group LLC acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,216 shares of the energy company’s stock, valued at approximately $637,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Torren Management LLC purchased a new stake in IDACORP in the fourth quarter valued at $25,000. Western Wealth Management LLC purchased a new position in shares of IDACORP during the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of IDACORP by 630.0% during 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 during the period. Trust Co. of Vermont acquired a new stake in shares of IDACORP during the 2nd quarter worth about $30,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of IDACORP during the 2nd quarter worth about $33,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IDA shares. Wells Fargo & Company upped their target price on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Barclays dropped their price target on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Mizuho set a $157.00 price target on shares of IDACORP in a research note on Friday, May 1st. BTIG Research restated a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Moderate Buy” and an average target price of $153.86.

Insider Buying and Selling

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’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 sale, the vice president directly owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

IDACORP Price Performance

IDA opened at $138.15 on Tuesday. The stock’s 50-day moving average price is $145.94 and its 200 day moving average price is $143.50. IDACORP, Inc. has a 12-month low of $122.30 and a 12-month high of $154.91. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 2.37 and a beta of 0.48. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The company had revenue of $469.80 million for the quarter, compared to analyst estimates of $511.87 million. 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. As a group, sell-side analysts expect that IDACORP, Inc. will post 6.38 earnings per share for the current year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors 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 yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s payout ratio is presently 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.