Idacorp SVP and COO sells $170,929 in stock

Adam J. Richins, Senior Vice President and Chief Operating Officer of IDACORP Inc . (NYSE:IDA), recently reported a series of stock transactions involving the company’s common stock. On February 24, Richins sold 1,500 shares at an average price of $113.95, totaling approximately $170,929. The stock, which currently trades at $115.78, has shown strong momentum with a 31.6% return over the past year.

Earlier, on February 21, he acquired 3,774 shares of common stock without any financial consideration, as these were received upon the satisfaction of performance criteria for a previous award. Additionally, on the same day, Richins disposed of 1,700 shares to cover tax obligations at a price of $114.20 per share, amounting to a total of $194,140. According to InvestingPro analysis, IDACORP demonstrates stable performance with consistently low price volatility, making it an interesting utility sector player.

These transactions reflect changes in Richins’ holdings, which now stand at 14,611 shares of IDACORP common stock following the sales. The company maintains a solid 3% dividend yield and has maintained dividend payments for 55 consecutive years, showcasing its commitment to shareholder returns.

In other recent news, IDACORP Inc. reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.70 against the forecasted $0.63. The company also achieved a revenue of $411.97 million, significantly exceeding the forecast of $306.04 million. Additionally, IDACORP announced updates on its at-the-market (ATM) equity offering program, having sold approximately $92.35 million worth of shares, with $207.65 million still available for sale. The ATM program, which began in May 2024, allows IDACORP to sell common stock up to $300 million and will continue until May 2025.

The company has filed a new registration statement to ensure the continuity of this program. Analyst firms have noted IDACORP’s strong performance, with the company projecting an EPS guidance range of $5.65 to $5.85 for 2025, indicating confidence in continued growth. IDACORP plans significant capital expenditures, aiming to invest $1.1 billion annually from 2025 to 2029 to support infrastructure development. These recent developments underscore IDACORP’s strategic efforts to maintain robust financial performance and operational growth.

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