Hsbc Holdings PLC Makes New Investment in IDACORP, Inc. $IDA

Hsbc Holdings PLC acquired a new stake in IDACORP, Inc. (NYSE:IDA) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,648 shares of the energy company’s stock, valued at approximately $1,470,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in IDACORP in the 2nd quarter valued at $1,033,914,000. Morgan Stanley lifted its holdings in shares of IDACORP by 9.9% during the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after acquiring an additional 188,845 shares during the period. State Street Corp lifted its holdings in shares of IDACORP by 0.6% during the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after acquiring an additional 11,403 shares during the period. Reaves W H & Co. Inc. boosted its stake in shares of IDACORP by 6.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock valued at $228,797,000 after purchasing an additional 107,131 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of IDACORP by 0.9% in the 1st quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock worth $214,075,000 after purchasing an additional 13,694 shares during the last quarter. 89.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on IDA. Wall Street Zen downgraded shares of IDACORP from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company lifted their target price on shares of IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Monday, August 3rd. Barclays decreased their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating on the stock in a research report on Monday, August 3rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $160.00 price target on shares of IDACORP in a report on Thursday, July 23rd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $153.86.

IDACORP Stock Performance

Shares of IDACORP stock opened at $136.32 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.99 and a quick ratio of 0.75. The firm has a market cap of $7.88 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.34 and a beta of 0.48. The firm has a 50 day simple moving average of $145.43 and a 200 day simple moving average of $143.56. IDACORP, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $154.91.

IDACORP (NYSE:IDA) last posted its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, topping 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 analysts’ expectations of $511.87 million. During the same quarter in the previous year, the company posted $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts predict that IDACORP, Inc. will post 6.38 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were given a dividend of $0.88 per share. The ex-dividend date was Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. IDACORP’s payout ratio is presently 58.28%.

IDACORP Company 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.