IDACORP (NYSE:IDA) Sets New 1-Year High – Here’s Why

IDACORP, Inc. (NYSE:IDA) reached a new 52-week high on Thursday . The stock traded as high as $149.75 and last traded at $148.96, with a volume of 21562 shares trading hands. The stock had previously closed at $147.27.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IDA. Mizuho set a $157.00 price target on IDACORP in a research report on Friday, May 1st. Morgan Stanley restated an “overweight” rating and issued a $152.00 target price on shares of IDACORP in a report on Wednesday. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Wells Fargo & Company reissued an “underweight” rating and issued a $121.00 price target on shares of IDACORP in a research report on Tuesday, April 21st. Finally, Barclays boosted their price objective on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

IDACORP Stock Up 0.7%

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 firm has a market cap of $8.22 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 2.89 and a beta of 0.49. The firm has a 50-day moving average of $142.95 and a two-hundred day moving average of $138.26.

IDACORP (NYSE:IDA) last released 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 firm had revenue of $403.41 million for the quarter, compared to analyst estimates of $437.51 million. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.During the same quarter last year, the firm posted $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, sell-side analysts predict that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s payout ratio is 58.57%.

Insider Buying and Selling

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction 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 transaction, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. This represents a 41.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IDA. Torren Management LLC acquired a new position in IDACORP in the 4th quarter valued at approximately $25,000. Western Wealth Management LLC bought a new position in IDACORP in the first quarter worth $29,000. Caitong International Asset Management Co. Ltd boosted its stake in IDACORP by 630.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after buying an additional 189 shares in the last quarter. Summit Securities Group LLC acquired a new stake in IDACORP during the first quarter worth $37,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in IDACORP in the 3rd quarter valued at $34,000. 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.