IDACORP, Inc. (NYSE:IDA) Receives $137.88 Average Target Price from Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $137.8750.

Several research analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research report on Tuesday, October 28th. BTIG Research upgraded shares of IDACORP to a “strong-buy” rating in a report on Wednesday, October 22nd. Morgan Stanley set a $139.00 price target on shares of IDACORP and gave the company an “overweight” rating in a research note on Tuesday, December 16th. UBS Group reduced their price target on shares of IDACORP from $135.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $152.00 price objective on shares of IDACORP in a research report on Monday, December 1st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in IDACORP by 6.3% during the second quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock worth $216,264,000 after buying an additional 110,885 shares during the period. Reaves W H & Co. Inc. boosted its position in shares of IDACORP by 8.5% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock worth $224,745,000 after purchasing an additional 133,836 shares during the period. Alliancebernstein L.P. increased its holdings in IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after purchasing an additional 13,283 shares during the last quarter. Jennison Associates LLC raised its position in IDACORP by 3.5% in the third quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock valued at $181,055,000 after purchasing an additional 46,413 shares during the period. Finally, Geode Capital Management LLC lifted its stake in IDACORP by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,021,027 shares of the energy company’s stock worth $117,905,000 after purchasing an additional 15,223 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Price Performance

IDA stock opened at $127.26 on Wednesday. IDACORP has a 1 year low of $104.74 and a 1 year high of $138.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. The firm has a market capitalization of $6.88 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. The business has a 50 day simple moving average of $128.33 and a 200-day simple moving average of $126.03.

IDACORP (NYSE:IDA) last announced its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.03. The firm had revenue of $524.42 million for the quarter, compared to the consensus estimate of $663.09 million. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.During the same quarter last year, the business posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities research analysts anticipate that IDACORP will post 5.81 earnings per share for the current fiscal year.

IDACORP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s dividend payout ratio (DPR) is currently 60.48%.

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.