IDACORP (NYSE:IDA) Sees Unusually-High Trading Volume – Time to Buy?

IDACORP, Inc. (NYSE:IDA) shares saw unusually-high trading volume on Thursday . 819,644 shares were traded during trading, an increase of 58% from the previous session’s volume of 518,807 shares.The stock last traded at $150.8530 and had previously closed at $150.12.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IDA shares. Mizuho set a $157.00 target price on IDACORP in a report on Friday, May 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $152.00 target price on shares of IDACORP in a report on Wednesday, June 24th. Barclays increased their price target on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $121.00 price objective on shares of IDACORP in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, IDACORP has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

IDACORP Stock Up 1.3%

The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 3.02 and a beta of 0.48. The business’s 50 day moving average is $143.36 and its 200 day moving average is $139.15.

IDACORP (NYSE:IDA) last announced its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. The company had revenue of $403.41 million for the quarter, compared to the consensus estimate of $437.51 million. IDACORP had a net margin of 18.60% and a return on equity of 9.40%. During the same period in the previous year, the business earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Equities analysts expect that IDACORP, Inc. will post 6.39 earnings per share for the current year.

IDACORP Announces Dividend

The firm also recently declared 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. This represents a $3.52 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, May 5th. IDACORP’s payout ratio is presently 58.57%.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was 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 directly owned 2,138 shares in the company, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On IDACORP

Several institutional investors and hedge funds have recently bought and sold shares of the business. Torren Management LLC purchased a new stake in shares of IDACORP in the fourth quarter worth approximately $25,000. Western Wealth Management LLC purchased a new position in IDACORP during the first quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock valued at $29,000 after buying an additional 189 shares during the period. Summit Securities Group LLC acquired a new position in IDACORP in the 1st quarter valued at approximately $37,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in IDACORP in the 3rd quarter valued at approximately $34,000. Hedge funds and other 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.