IDACORP, Inc. (NYSE:IDA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of IDACORP, Inc. (NYSE:IDA) have earned a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $148.5714.

Several brokerages recently issued reports on IDA. UBS Group upped their price objective on shares of IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Wall Street Zen raised shares of IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Morgan Stanley set a $147.00 price objective on shares of IDACORP in a research note on Thursday, May 21st. Finally, Mizuho set a $157.00 price objective on shares of IDACORP in a research note on Friday, May 1st.

Insider Transactions at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction dated 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 approximately $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of IDACORP

Several hedge funds have recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of IDACORP by 9.9% in the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock valued at $266,275,000 after buying an additional 188,845 shares during the period. State Street Corp grew its stake in shares of IDACORP by 0.6% in the 4th quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after buying an additional 11,403 shares during the period. Reaves W H & Co. Inc. grew its stake in shares of IDACORP by 6.3% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock valued at $228,797,000 after buying an additional 107,131 shares during the period. Jennison Associates LLC grew its stake in shares of IDACORP by 0.9% in the 1st quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock valued at $214,075,000 after buying an additional 13,694 shares during the period. Finally, Alliancebernstein L.P. grew its stake in shares of IDACORP by 1.0% in the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock valued at $162,190,000 after buying an additional 13,283 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Up 1.9%

IDA opened at $141.29 on Friday. IDACORP has a twelve month low of $111.12 and a twelve month high of $149.73. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average price of $143.41 and a 200 day moving average price of $136.95. The company has a market cap of $7.83 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.76 and a beta of 0.49.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter in the prior year, the firm earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Sell-side analysts expect 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. Investors of record on Tuesday, May 5th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, May 5th. IDACORP’s dividend payout ratio is currently 58.57%.

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.