IDACORP (NYSE:IDA) Sets New 12-Month High on Analyst Upgrade

IDACORP, Inc. (NYSE:IDA) reached a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from $149.00 to $159.00. Barclays currently has an overweight rating on the stock. IDACORP traded as high as $146.07 and last traded at $145.4180, with a volume of 118570 shares traded. The stock had previously closed at $145.01.

Several other equities research analysts also recently commented on IDA. Morgan Stanley set a $155.00 price objective on IDACORP in a report on Friday, February 20th. BTIG Research reiterated a “buy” rating and issued a $156.00 price objective on shares of IDACORP in a report on Friday, January 30th. Jefferies Financial Group reduced their price objective on IDACORP from $152.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, January 28th. Wells Fargo & Company cut IDACORP from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $129.00 to $118.00 in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.25.

Insider Buying and Selling

In other news, VP Julia A. Hilton sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the sale, the vice president directly owned 2,313 shares of the company’s stock, valued at $330,273.27. This represents a 30.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of IDACORP

Hedge funds have recently modified their holdings of the company. Torren Management LLC purchased a new stake in shares of IDACORP during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of IDACORP by 630.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after acquiring an additional 189 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of IDACORP during the 3rd quarter worth approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of IDACORP during the 3rd quarter worth approximately $34,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of IDACORP during the 4th quarter worth approximately $35,000. 89.10% of the stock is owned by hedge funds and other institutional investors.

IDACORP Stock Up 0.3%

The firm has a market capitalization of $7.98 billion, a PE ratio of 24.64, a PEG ratio of 2.81 and a beta of 0.54. The company has a fifty day moving average price of $140.23 and a 200-day moving average price of $133.68. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.68 and a current ratio of 0.93.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.The business had revenue of $405.24 million for the quarter, compared to analysts’ expectations of $533.06 million. During the same period in the prior year, the firm earned $0.70 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. As a group, analysts expect that IDACORP, Inc. will post 5.81 earnings per share for the current year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th were paid a $0.88 dividend. The ex-dividend date was Thursday, February 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s dividend payout ratio (DPR) is presently 59.66%.

About IDACORP

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.