Tema ETFs LLC Increases Stock Holdings in IDACORP, Inc. $IDA

Tema ETFs LLC boosted its stake in IDACORP, Inc. (NYSE:IDA) by 66.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,574 shares of the energy company’s stock after acquiring an additional 78,540 shares during the period. Tema ETFs LLC owned 0.35% of IDACORP worth $29,742,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IDA. 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 valued at $266,275,000 after purchasing an additional 188,845 shares in the last quarter. State Street Corp raised its stake in IDACORP by 0.6% in the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock worth $238,939,000 after buying an additional 11,403 shares in the last quarter. Reaves W H & Co. Inc. raised its stake in IDACORP by 6.3% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after buying an additional 107,131 shares in the last quarter. Jennison Associates LLC lifted its holdings in IDACORP by 0.9% in the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock worth $214,075,000 after buying an additional 13,694 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in IDACORP by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after buying an additional 13,283 shares during the period. 89.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP James Bo D. Hanchey sold 1,500 shares of the 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 of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

IDA has been the topic of a number of research analyst reports. BTIG Research reiterated a “buy” rating and set a $160.00 target price on shares of IDACORP in a report on Thursday, July 23rd. Barclays lowered their target price on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, August 3rd. Wells Fargo & Company lifted their price target on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Finally, Mizuho set a $157.00 price objective on IDACORP in a report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, IDACORP currently has a consensus rating of “Moderate Buy” and an average price target of $154.57.

IDACORP Price Performance

Shares of IDA opened at $140.16 on Wednesday. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The firm’s 50-day simple moving average is $145.92 and its two-hundred day simple moving average is $143.00. The stock has a market cap of $8.11 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.41 and a beta of 0.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million during the quarter, compared to analyst estimates of $511.87 million. During the same period last year, the business earned $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Analysts anticipate that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Wednesday, August 5th will be issued a $0.88 dividend. 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 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.