FY2027 EPS Estimates for IDACORP Lifted by Zacks Research

IDACORP, Inc. (NYSE:IDA) – Equities research analysts at Zacks Research increased their FY2027 earnings per share (EPS) estimates for shares of IDACORP in a research note issued to investors on Tuesday, June 17th. Zacks Research analyst R. Department now anticipates that the energy company will post earnings per share of $6.86 for the year, up from their prior forecast of $6.76. The consensus estimate for IDACORP’s current full-year earnings is $5.81 per share.

IDA has been the subject of a number of other reports. Bank of America upped their target price on IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their price objective on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Wall Street Zen cut shares of IDACORP from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Jefferies Financial Group upgraded shares of IDACORP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Finally, Guggenheim raised their price objective on shares of IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, IDACORP currently has a consensus rating of “Hold” and a consensus target price of $122.86.

IDACORP Stock Performance

NYSE IDA opened at $113.46 on Thursday. The company has a fifty day moving average of $116.05 and a two-hundred day moving average of $113.65. The company has a market capitalization of $6.13 billion, a PE ratio of 20.15, a P/E/G ratio of 2.40 and a beta of 0.58. IDACORP has a 1 year low of $90.67 and a 1 year high of $120.84. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.81 and a quick ratio of 1.44.

IDACORP (NYSE:IDA) last announced its quarterly earnings results on Thursday, May 1st. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The company had revenue of $432.46 million for the quarter, compared to analyst estimates of $442.24 million. During the same period in the prior year, the firm posted $0.95 earnings per share.

Hedge Funds Weigh In On IDACORP

A number of institutional investors and hedge funds have recently made changes to their positions in IDA. Vanguard Group Inc. lifted its position in shares of IDACORP by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 6,046,723 shares of the energy company’s stock valued at $660,786,000 after acquiring an additional 77,230 shares in the last quarter. Wellington Management Group LLP increased its position in shares of IDACORP by 3.2% in the first quarter. Wellington Management Group LLP now owns 3,536,138 shares of the energy company’s stock worth $410,970,000 after acquiring an additional 111,182 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in IDACORP by 10.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,110,160 shares of the energy company’s stock valued at $245,243,000 after purchasing an additional 200,465 shares during the period. Alliancebernstein L.P. lifted its position in IDACORP by 0.9% during the 1st quarter. Alliancebernstein L.P. now owns 1,391,564 shares of the energy company’s stock worth $161,728,000 after acquiring an additional 12,156 shares in the last quarter. Finally, Reaves W H & Co. Inc. boosted its stake in shares of IDACORP by 25.0% in the first quarter. Reaves W H & Co. Inc. now owns 1,247,925 shares of the energy company’s stock valued at $145,034,000 after purchasing an additional 249,542 shares during the period. 89.10% of the stock is owned by institutional investors and hedge funds.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Monday, May 5th. IDACORP’s payout ratio is 61.10%.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.