Brokerages Set IDACORP, Inc. (NYSE:IDA) Target Price at $148.86

IDACORP, Inc. (NYSE:IDA) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $150.00.

Several research analysts have commented on the company. Wells Fargo & Company restated an “underweight” rating and set a $121.00 price objective on shares of IDACORP in a report on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating and set a $157.00 price target on shares of IDACORP in a research report on Monday, April 27th. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Barclays increased their target price on shares of IDACORP from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Finally, BTIG Research reissued a “buy” rating and set a $156.00 target price on shares of IDACORP in a research report on Friday, January 30th.

IDACORP Stock Up 1.0%

NYSE:IDA opened at $145.41 on Tuesday. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. IDACORP has a twelve month low of $108.15 and a twelve month high of $149.73. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The stock has a fifty day simple moving average of $143.54 and a 200-day simple moving average of $135.71.

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

IDACORP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th will be paid a dividend of $0.88 per share. The ex-dividend date is Tuesday, May 5th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. IDACORP’s dividend payout ratio (DPR) is currently 58.57%.

Insider Transactions at IDACORP

In related news, VP Julia A. Hilton sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total value of $142,790.00. Following the completion of the transaction, the vice president owned 2,313 shares of the company’s stock, valued at $330,273.27. The trade was a 30.18% decrease in their ownership of the stock. 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 insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of IDACORP by 9.9% in the 4th quarter. Morgan Stanley now owns 2,103,940 shares of the energy company’s stock worth $266,275,000 after acquiring an additional 188,845 shares in the last quarter. State Street Corp boosted its position in IDACORP by 0.6% during the fourth quarter. State Street Corp now owns 1,887,948 shares of the energy company’s stock valued at $238,939,000 after purchasing an additional 11,403 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in IDACORP by 6.3% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,807,811 shares of the energy company’s stock valued at $228,797,000 after purchasing an additional 107,131 shares during the last quarter. Jennison Associates LLC raised its holdings in IDACORP by 0.9% in the first quarter. Jennison Associates LLC now owns 1,497,342 shares of the energy company’s stock worth $214,075,000 after purchasing an additional 13,694 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in IDACORP by 1.0% in the second quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after purchasing an additional 13,283 shares in the last quarter. 89.10% of the stock is currently owned by hedge funds and other 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.