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

Shares of IDACORP, Inc. (NYSE:IDA) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with 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 $152.71.

A number of analysts have weighed in on the company. Barclays reduced their price target on IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. BTIG Research reissued a “buy” rating and set a $160.00 price objective on shares of IDACORP in a report on Thursday, July 23rd. Morgan Stanley cut their price objective on IDACORP from $151.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. Finally, Wells Fargo & Company upped their target price on IDACORP from $154.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st.

IDACORP Stock Up 0.7%

IDACORP stock opened at $132.60 on Friday. The company has a market capitalization of $7.67 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.27 and a beta of 0.48. The firm’s fifty day simple moving average is $136.63 and its 200-day simple moving average is $141.86. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. IDACORP has a 1-year low of $124.12 and a 1-year high of $154.91.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, July 30th. The energy company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.01. The firm had revenue of $469.80 million during the quarter, compared to analysts’ expectations of $511.87 million. IDACORP had a net margin of 18.78% and a return on equity of 9.34%. During the same period in the prior year, the company posted $1.76 earnings per share. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. Sell-side analysts forecast that IDACORP will post 6.38 earnings per share for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Wednesday, August 5th. IDACORP’s payout ratio is presently 58.28%.

Institutional Trading of IDACORP

Several large investors have recently modified their holdings of IDA. BlackRock Inc. bought a new position in IDACORP in the 2nd quarter worth $1,033,914,000. Jennison Associates LLC boosted its holdings in IDACORP by 0.9% during the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock valued at $214,075,000 after acquiring an additional 13,694 shares during the period. Geode Capital Management LLC boosted its holdings in IDACORP by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,102,727 shares of the energy company’s stock valued at $139,601,000 after acquiring an additional 54,934 shares during the period. GW&K Investment Management LLC grew its position in shares of IDACORP by 7.1% in the fourth quarter. GW&K Investment Management LLC now owns 716,975 shares of the energy company’s stock valued at $90,741,000 after purchasing an additional 47,248 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of IDACORP in the second quarter valued at about $72,143,000. 89.10% of the stock is owned by institutional investors.

About IDACORP

IDACORP, Inc (NYSE: IDA) is an energy holding company headquartered in Boise, Idaho. Its principal subsidiary, Idaho Power Company, is a regulated electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves a broad territory covering southern Idaho and eastern Oregon. Its electricity supply portfolio includes hydroelectric generation, natural gas and other thermal resources, as well as power purchased from renewable and other third-party sources.