IDACORP, Inc. (NYSE:IDA) Receives $148.57 Average Target Price from Analysts

IDACORP, Inc. (NYSE:IDA) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $149.2857.

Several research analysts recently issued reports on the company. Mizuho set a $157.00 target price on IDACORP in a research report on Friday, May 1st. Wells Fargo & Company reaffirmed an “underweight” rating and set a $121.00 target price on shares of IDACORP in a research report on Tuesday, April 21st. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price objective on IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th.

IDACORP Stock Down 0.7%

Shares of NYSE:IDA opened at $151.88 on Wednesday. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.05 and a beta of 0.49. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. IDACORP has a 12-month low of $113.82 and a 12-month high of $152.88. The business’s 50 day moving average is $143.14 and its 200 day moving average is $138.61.

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

IDACORP Announces Dividend

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

Insiders Place Their Bets

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the transaction, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IDA. Orion Porfolio Solutions LLC boosted its position in IDACORP by 3,215.7% in the second quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock worth $69,784,000 after purchasing an additional 586,221 shares during the last quarter. Zimmer Partners LP bought a new stake in shares of IDACORP in the third quarter valued at $71,031,000. Capital Research Global Investors bought a new stake in shares of IDACORP in the fourth quarter valued at $44,511,000. Invesco Ltd. raised its stake in shares of IDACORP by 139.4% in the third quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock valued at $78,208,000 after buying an additional 344,622 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of IDACORP in the fourth quarter valued at $38,817,000. Hedge funds and other institutional investors 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.