IDACORP, Inc. (NYSE:IDA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of IDACORP, Inc. (NYSE:IDA) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $149.2857.

Several equities analysts have weighed in on IDA shares. Wells Fargo & Company reiterated an “underweight” rating and issued a $121.00 target price on shares of IDACORP in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Mizuho set a $157.00 target price on shares of IDACORP in a report on Friday, May 1st. Weiss Ratings upgraded shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Finally, Barclays boosted their target price on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th.

Insider Activity at IDACORP

In other news, VP James Bo D. Hanchey sold 1,500 shares of the company’s stock in a transaction that occurred on 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 directly owned 2,138 shares in the company, valued at approximately $301,351.10. This represents a 41.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On IDACORP

Several large investors have recently made changes to their positions in the stock. Assetmark Inc. lifted its holdings in shares of IDACORP by 7.6% in the 3rd quarter. Assetmark Inc. now owns 1,128 shares of the energy company’s stock worth $149,000 after acquiring an additional 80 shares during the last quarter. AssuredPartners Investment Advisors LLC lifted its holdings in shares of IDACORP by 5.1% in the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock worth $209,000 after acquiring an additional 80 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of IDACORP by 48.0% in the 4th quarter. Harbour Investments Inc. now owns 302 shares of the energy company’s stock worth $38,000 after acquiring an additional 98 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of IDACORP by 1.6% in the 1st quarter. Sanctuary Advisors LLC now owns 6,482 shares of the energy company’s stock worth $927,000 after acquiring an additional 103 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of IDACORP by 1.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 5,738 shares of the energy company’s stock worth $758,000 after acquiring an additional 106 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Stock Performance

NYSE:IDA opened at $151.29 on Wednesday. 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 firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 3.03 and a beta of 0.49. The company’s 50-day moving average is $143.27 and its two-hundred day moving average is $138.98. IDACORP has a 1-year low of $113.99 and a 1-year high of $153.28.

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

IDACORP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP’s dividend payout ratio is currently 58.57%.

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.