Barclays Cuts IDACORP (NYSE:IDA) Price Target to $162.00

IDACORP (NYSE:IDA) had its target price cut by Barclays from $167.00 to $162.00 in a research report sent to investors on Monday morning, MarketBeat reports. They currently have an overweight rating on the energy company’s stock.

Several other equities research analysts have also recently issued reports on IDA. Wells Fargo & Company lifted their target price on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Morgan Stanley restated an “overweight” rating and set a $156.00 price target on shares of IDACORP in a report on Wednesday, July 22nd. BTIG Research reaffirmed a “buy” rating and set a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Mizuho set a $157.00 target price on IDACORP in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $154.57.

IDACORP Stock Performance

IDA opened at $143.47 on Monday. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 2.49 and a beta of 0.48. The company has a fifty day moving average of $145.71 and a 200 day moving average of $142.81. IDACORP has a fifty-two week low of $122.30 and a fifty-two week high of $154.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.75 and a current ratio of 0.99.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The business had revenue of $469.80 million for the quarter, compared to analysts’ expectations of $511.87 million. During the same quarter in the previous year, the company earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. As a group, sell-side analysts forecast that IDACORP will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be issued a $0.88 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. IDACORP’s payout ratio is 58.28%.

Insider Buying and Selling at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IDA. Orion Porfolio Solutions LLC raised its position in IDACORP by 3,215.7% in the 2nd 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 period. Zimmer Partners LP bought a new stake in IDACORP in the third quarter worth about $71,031,000. Capital Research Global Investors bought a new stake in IDACORP in the fourth quarter worth about $44,511,000. Invesco Ltd. boosted its position in shares of IDACORP by 139.4% during 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 purchased a new position in shares of IDACORP during the fourth quarter valued at approximately $38,817,000. 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.