IDACORP (NYSE:IDA) Upgraded by Barclays to “Strong-Buy” Rating

Barclays upgraded shares of IDACORP (NYSE:IDA) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also commented on IDA. Morgan Stanley set a $139.00 price target on IDACORP and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Wall Street Zen lowered IDACORP from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Jefferies Financial Group reissued a “buy” rating and set a $152.00 target price on shares of IDACORP in a research report on Monday, December 1st. Mizuho boosted their price target on shares of IDACORP from $129.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Wells Fargo & Company raised shares of IDACORP to a “hold” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $138.56.

IDACORP Trading Up 1.4%

IDA opened at $134.65 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.09 and a quick ratio of 0.82. IDACORP has a fifty-two week low of $107.27 and a fifty-two week high of $138.03. The company’s 50 day moving average price is $128.02 and its two-hundred day moving average price is $127.09. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.58 and a beta of 0.61.

IDACORP (NYSE:IDA) last released its quarterly earnings results on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. IDACORP had a net margin of 17.59% and a return on equity of 9.35%. The firm had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. During the same quarter last year, the firm earned $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. As a group, research analysts predict that IDACORP will post 5.81 earnings per share for the current year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is presently 60.48%.

Institutional Trading of IDACORP

Several large investors have recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in IDACORP during the 2nd quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd raised its position in shares of 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 purchasing an additional 189 shares during the period. Quent Capital LLC bought a new position in shares of IDACORP in the 3rd quarter worth $30,000. Ameritas Advisory Services LLC acquired a new stake in IDACORP in the 2nd quarter valued at $31,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in IDACORP during the 3rd quarter valued at $34,000. 89.10% of the stock is currently owned by institutional investors and hedge funds.

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.