Kingdom Financial Group LLC. Buys New Holdings in IDACORP, Inc. $IDA

Kingdom Financial Group LLC. bought a new stake in shares of IDACORP, Inc. (NYSE:IDA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,895 shares of the energy company’s stock, valued at approximately $620,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDA. Orion Porfolio Solutions LLC raised its holdings in IDACORP by 3,215.7% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock valued at $69,784,000 after buying an additional 586,221 shares during the last quarter. Zimmer Partners LP purchased a new stake in IDACORP in the 3rd quarter worth approximately $71,031,000. Invesco Ltd. lifted its holdings in IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock worth $78,208,000 after buying an additional 344,622 shares during the period. BROOKFIELD Corp ON purchased a new stake in IDACORP in the 2nd quarter worth approximately $33,920,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in IDACORP in the 2nd quarter worth approximately $29,728,000. 89.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IDA has been the topic of several recent research reports. UBS Group upped their price target on IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Barclays raised their target price on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. BTIG Research reaffirmed a “buy” rating and set a $156.00 target price on shares of IDACORP in a research note on Friday, January 30th. Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.57.

Insider Buying and Selling

In other IDACORP news, VP Julia A. Hilton sold 1,000 shares of the company’s 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 completion of the sale, the vice president directly owned 2,313 shares of the company’s stock, valued at approximately $330,273.27. This represents a 30.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

IDACORP Stock Up 0.1%

IDACORP stock opened at $141.69 on Friday. The stock has a fifty day simple moving average of $143.37 and a two-hundred day simple moving average of $136.16. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.82 and a beta of 0.52. IDACORP, Inc. has a 12 month low of $111.12 and a 12 month high of $149.73.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The firm 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 last year, the firm posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities analysts predict that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

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

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.