IDACORP, Inc. (NYSE:IDA) Given Average Rating of “Moderate Buy” by Analysts

IDACORP, Inc. (NYSE:IDA) has earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $149.2857.

IDA has been the subject of several recent research reports. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company reissued an “underweight” rating and set a $121.00 price objective on shares of IDACORP in a report on Tuesday, April 21st. Morgan Stanley restated an “overweight” rating and issued a $152.00 target price on shares of IDACORP in a research note on Wednesday, June 24th. Barclays lifted their target price on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th.

Insiders Place Their Bets

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IDA. Morgan Stanley increased its holdings in shares of IDACORP by 9.9% in the fourth quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after purchasing an additional 188,845 shares during the period. State Street Corp boosted its stake in 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 buying an additional 11,403 shares during the period. Reaves W H & Co. Inc. grew its position in IDACORP by 6.3% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock worth $228,797,000 after buying an additional 107,131 shares in the last quarter. Jennison Associates LLC grew its position in IDACORP by 0.9% during the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock worth $214,075,000 after buying an additional 13,694 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after acquiring an additional 13,283 shares during the last quarter. 89.10% of the stock is owned by institutional investors.

IDACORP Stock Down 1.5%

IDA opened at $148.80 on Friday. IDACORP has a 12 month low of $119.42 and a 12 month high of $154.91. The company has a market cap of $8.25 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $144.74 and a 200 day moving average of $141.10.

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

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a yield of 2.4%. IDACORP’s payout ratio is currently 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.