IDACORP (NYSE:IDA) Stock Passes Above 200 Day Moving Average – Here’s Why

IDACORP, Inc. (NYSE:IDA)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $140.55 and traded as high as $152.95. IDACORP shares last traded at $151.0740, with a volume of 415,107 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IDA. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 12th. Barclays upped their price target on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Mizuho set a $157.00 price objective on shares of IDACORP in a research report on Friday, May 1st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $152.00 target price on shares of IDACORP in a research note on Wednesday, June 24th. Six equities 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

IDACORP Price Performance

The stock has a 50-day simple moving average of $144.39 and a 200 day simple moving average of $140.72. The stock has a market capitalization of $8.26 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 3.01 and a beta of 0.48. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21.

IDACORP (NYSE:IDA) last released its earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping 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 company had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter in the previous year, the company posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities analysts forecast that IDACORP, Inc. will post 6.39 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 5th were given a dividend of $0.88 per share. The ex-dividend date was Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. IDACORP’s dividend payout ratio is presently 58.57%.

Insider Transactions at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the transaction, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On IDACORP

A number of institutional investors and hedge funds have recently modified their holdings of the business. Torren Management LLC acquired a new stake in IDACORP during the 4th quarter worth $25,000. Western Wealth Management LLC acquired a new position in shares of IDACORP in the 1st quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 purchasing an additional 189 shares during the period. Summit Securities Group LLC bought a new position in shares of IDACORP in the 1st quarter worth $37,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of IDACORP in the 3rd quarter worth $34,000. 89.10% of the stock is owned by institutional investors.

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.