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

Shares of IDACORP, Inc. (NYSE:IDA) reached a new 52-week high 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.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $129.00 to $118.00 in a research report on Tuesday, January 20th. UBS Group increased their price target on shares of IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. BTIG Research reiterated a “buy” rating and set a $156.00 price target on shares of IDACORP in a research report on Friday, January 30th. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Sunday, February 22nd. Finally, Weiss Ratings restated 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.25.

Insider Activity

In related news, VP Julia A. Hilton sold 1,000 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total value of $142,790.00. Following the completion of the sale, the vice president owned 2,313 shares of the company’s stock, valued at $330,273.27. This trade represents a 30.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of IDACORP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IDA. Torren Management LLC purchased a new stake in IDACORP in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its stake in IDACORP by 630.0% in the third 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 during the period. Quent Capital LLC purchased a new stake in IDACORP in the third quarter worth $30,000. Measured Wealth Private Client Group LLC purchased a new stake in IDACORP in the third quarter worth $34,000. Finally, Los Angeles Capital Management LLC purchased a new stake in IDACORP in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Price Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 0.93 and a quick ratio of 0.68. The company has a market cap of $7.98 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 2.81 and a beta of 0.54. The business has a 50 day moving average of $140.23 and a 200 day moving average of $133.68.

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

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Thursday, February 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, February 5th. 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.