IDACORP, Inc. (NYSE:IDA) Receives Consensus Rating of “Moderate Buy” from Brokerages

IDACORP, Inc. (NYSE:IDA) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $148.5714.

A number of brokerages recently weighed in on IDA. Barclays raised their price objective on IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note 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. Weiss Ratings raised IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company reissued an “underweight” rating and issued a $121.00 price objective on shares of IDACORP in a research note on Tuesday, April 21st. Finally, Mizuho set a $157.00 price objective on IDACORP in a research note on Friday, May 1st.

IDACORP Stock Up 0.3%

IDA opened at $136.91 on Friday. IDACORP has a fifty-two week low of $111.12 and a fifty-two week high of $149.73. The business has a 50-day moving average of $143.33 and a 200-day moving average of $136.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 0.95. The company has a market capitalization of $7.59 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49.

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

IDACORP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. IDACORP’s dividend payout ratio (DPR) is presently 58.57%.

Insider Buying and Selling

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. The trade was a 41.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IDA. Orion Porfolio Solutions LLC increased its position in IDACORP by 3,215.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 604,451 shares of the energy company’s stock worth $69,784,000 after buying an additional 586,221 shares during the period. Zimmer Partners LP bought a new position in IDACORP in the 3rd quarter worth approximately $71,031,000. Capital Research Global Investors bought a new position in IDACORP in the 4th quarter worth approximately $44,511,000. Invesco Ltd. increased its position in IDACORP by 139.4% in the 3rd quarter. Invesco Ltd. now owns 591,812 shares of the energy company’s stock worth $78,208,000 after buying an additional 344,622 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new position in IDACORP in the 4th quarter worth approximately $38,817,000. 89.10% of the stock is owned by institutional investors.

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.