BlackRock Amends IDACORP Stake, Maintains Passive Investment
Ticker: IDA · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1057877
| Field | Detail |
|---|---|
| Company | Idacorp INC (IDA) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a big chunk of IDACORP, but they're just holding, not trying to take over.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 23, 2024, indicating its ownership of IDACORP INC common stock as of December 31, 2023. This amendment (Amendment No. 16) updates their previous disclosures, showing their continued significant, passive investment in the utility company. This matters to investors because BlackRock is a major institutional holder, and changes in their reported stake can signal shifts in institutional sentiment or investment strategy towards IDACORP INC.
Why It Matters
This filing confirms BlackRock's ongoing substantial, yet passive, ownership in IDACORP INC, providing transparency on a key institutional investor's position. It assures investors that a major player continues to see value in the company without seeking to influence management.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate risks or significant changes in company control.
Analyst Insight
Investors should note BlackRock's continued passive stake in IDACORP INC, which suggests a long-term, hands-off investment perspective. This information can be used to gauge institutional confidence in the company's stability and future prospects, but it doesn't signal any immediate catalysts for price movement.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- IDACORP INC (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A
- Amendment No: 16 (number) — the specific amendment number to the Schedule 13G
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, as indicated by 'FORM TYPE: SC 13G/A' and 'Amendment No: 16' in the filing.
Who is the subject company whose securities are being reported?
The subject company is IDACORP INC, as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IDACORP INC'.
Who is the entity filing this report?
The entity filing this report is BlackRock Inc., as identified under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' and 'Names of reporting persons. BlackRock, Inc.'.
What was the date of the event that required this filing?
The date of the event which required this filing was December 31, 2023, as specified under 'Date of Event Which Requires Filing of this Statement'.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b), indicated by '[X] Rule 13d-1(b)' in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding IDACORP INC (IDA).