Commerce Bank Takes Position in IDACORP, Inc. $IDA

Commerce Bank purchased a new position in shares of IDACORP, Inc. (NYSE:IDA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,511 shares of the energy company’s stock, valued at approximately $1,590,000.

Several other large investors also recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new stake in shares of IDACORP during the 4th quarter valued at approximately $25,000. Western Wealth Management LLC acquired a new stake in shares of IDACORP during the 1st quarter worth about $29,000. Trust Co. of Vermont purchased a new stake in IDACORP in the 2nd quarter valued at about $30,000. Caitong International Asset Management Co. Ltd lifted its position in IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in IDACORP during the first quarter worth about $37,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IDA shares. Morgan Stanley decreased their price objective on shares of IDACORP from $156.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday. Barclays dropped their target price on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Mizuho set a $157.00 target price on IDACORP in a research report on Friday, May 1st. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Finally, BTIG Research reiterated a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, IDACORP has a consensus rating of “Moderate Buy” and a consensus target price of $153.86.

IDACORP Price Performance

Shares of IDA opened at $137.71 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 moving average price is $145.84 and its 200 day moving average price is $143.52. The company has a market cap of $7.96 billion, a P/E ratio of 22.80, a PEG ratio of 2.38 and a beta of 0.48. The company has a quick ratio of 0.75, a current ratio of 0.99 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 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 company had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. During the same quarter last year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, research analysts forecast that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 5th. IDACORP’s dividend payout ratio is presently 58.28%.

Insiders Place Their Bets

In related news, VP James Bo D. Hanchey sold 1,500 shares of the firm’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 value of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.