IDACORP (NYSE:IDA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of IDACORP, Inc. (NYSE:IDA) saw strong trading volume on Thursday . Approximately 819,644 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 518,807 shares.The stock last traded at $150.8530 and had previously closed at $150.12.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $152.00 price target on shares of IDACORP in a research note on Wednesday, June 24th. Wells Fargo & Company reissued an “underweight” rating and issued a $121.00 price objective on shares of IDACORP in a research report on Tuesday, April 21st. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Mizuho set a $157.00 target price on shares of IDACORP in a research report on Friday, May 1st. Finally, Barclays lifted their price target 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. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

IDACORP Stock Up 0.1%

The firm has a 50-day moving average of $143.79 and a 200 day moving average of $139.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.08 and a beta of 0.48.

IDACORP (NYSE:IDA) last posted 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. The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same period last year, the company earned $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, sell-side analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.3%. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction on 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 directly owned 2,138 shares in the company, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of IDACORP

A number of large investors have recently added to or reduced their stakes in IDA. Torren Management LLC acquired a new position in shares of IDACORP during the 4th quarter worth about $25,000. Western Wealth Management LLC bought a new stake in shares of IDACORP in the 1st quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its stake in IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after purchasing an additional 189 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in IDACORP in the 3rd quarter valued at about $34,000. Finally, Los Angeles Capital Management LLC bought a new position in IDACORP during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.