IDACORP, Inc. (NYSE:IDA) Receives Consensus Rating of “Moderate Buy” from Brokerages

IDACORP, Inc. (NYSE:IDA) has earned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $154.5714.

A number of equities analysts recently weighed in on IDA shares. Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Wall Street Zen raised shares of IDACORP from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. Barclays decreased their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Morgan Stanley reissued an “overweight” rating and issued a $156.00 price objective on shares of IDACORP in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st.

IDACORP Stock Performance

NYSE:IDA opened at $140.77 on Thursday. The company has a market capitalization of $8.14 billion, a PE ratio of 23.31, a P/E/G ratio of 2.45 and a beta of 0.48. The company has a 50 day simple moving average of $146.18 and a two-hundred day simple moving average of $143.37. 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 has a fifty-two week low of $122.30 and a fifty-two week high of $154.91.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. The firm had revenue of $469.80 million for the quarter, compared to the consensus estimate 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. Research analysts anticipate that IDACORP will post 6.39 earnings per share for the current year.

IDACORP Dividend Announcement

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

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of the firm’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 completion of the sale, the vice president owned 2,138 shares of the company’s stock, valued at $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in IDACORP by 79.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company’s stock worth $690,000 after purchasing an additional 2,625 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of IDACORP by 6.8% during the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company’s stock valued at $39,805,000 after purchasing an additional 21,890 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of IDACORP by 8.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company’s stock valued at $16,698,000 after purchasing an additional 10,855 shares during the period. American Century Companies Inc. boosted its position in shares of IDACORP by 12.6% during the 2nd quarter. American Century Companies Inc. now owns 18,035 shares of the energy company’s stock worth $2,082,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of IDACORP by 5.7% during the 2nd quarter. Invesco Ltd. now owns 247,190 shares of the energy company’s stock worth $28,538,000 after purchasing an additional 13,297 shares in the last quarter. 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.