SummitTX Capital L.P. Has $3.54 Million Position in IDACORP, Inc. $IDA

SummitTX Capital L.P. increased its holdings in IDACORP, Inc. (NYSE:IDA) by 184.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 24,776 shares of the energy company’s stock after buying an additional 16,072 shares during the quarter. SummitTX Capital L.P.’s holdings in IDACORP were worth $3,542,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in IDACORP by 79.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock valued at $690,000 after purchasing an additional 2,625 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of IDACORP by 6.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock worth $39,805,000 after buying an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of IDACORP by 8.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock worth $16,698,000 after buying an additional 10,855 shares in the last quarter. American Century Companies Inc. lifted its position in shares of IDACORP by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after buying an additional 2,016 shares during the period. Finally, Invesco Ltd. lifted its position in shares of IDACORP by 5.7% during the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after buying an additional 13,297 shares during the period. Institutional investors own 89.10% of the company’s stock.

Insider Activity

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total transaction of $211,425.00. Following the transaction, the vice president owned 2,138 shares in the company, valued at $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on IDA shares. BTIG Research reaffirmed a “buy” rating and issued a $160.00 price target on shares of IDACORP in a research note on Thursday. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Barclays boosted 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. Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $156.00 target price on shares of IDACORP in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $155.14.

IDACORP Stock Down 0.5%

Shares of IDA opened at $147.79 on Tuesday. The company has a market capitalization of $8.19 billion, a P/E ratio of 24.59, a PEG ratio of 2.96 and a beta of 0.48. IDACORP, Inc. has a one year low of $120.52 and a one year high of $154.91. The business’s 50 day simple moving average is $145.41 and its 200-day simple moving average is $142.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million during the quarter, compared to analysts’ expectations of $437.51 million. During the same period last year, the firm posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, sell-side analysts predict that IDACORP, Inc. will post 6.39 EPS for the current fiscal year.

IDACORP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be paid a $0.88 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. IDACORP’s dividend payout ratio (DPR) is 58.57%.

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.