IDACORP (NYSE:IDA) Hits New 52-Week High – Here’s Why

Shares of IDACORP, Inc. (NYSE:IDA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $154.90 and last traded at $154.6290, with a volume of 1551282 shares trading hands. The stock had previously closed at $150.12.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IDA shares. Barclays upped their price objective on shares of IDACORP from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Wells Fargo & Company restated an “underweight” rating and set a $121.00 price target on shares of IDACORP in a report on Tuesday, April 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $152.00 price target on shares of IDACORP in a research report on Wednesday, June 24th. Wall Street Zen upgraded IDACORP from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 12th. Finally, Mizuho set a $157.00 target price on IDACORP in a research note on Friday, May 1st. Six 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.29.

IDACORP Price Performance

The company has a market cap of $8.57 billion, a PE ratio of 25.73, a PEG ratio of 2.99 and a beta of 0.48. The firm’s 50-day moving average is $143.56 and its 200-day moving average is $139.35. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 1.01.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, April 30th. The energy company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $403.41 million during 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 last year, the business posted $1.10 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities analysts anticipate that IDACORP, Inc. will post 6.39 EPS for the current year.

IDACORP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 5th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, May 5th. IDACORP’s dividend payout ratio (DPR) is presently 58.57%.

Insider Buying and Selling at IDACORP

In related news, VP James Bo D. Hanchey sold 1,500 shares of IDACORP stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total transaction of $211,425.00. Following the sale, the vice president directly owned 2,138 shares in the company, valued at $301,351.10. The trade was a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On IDACORP

A number of institutional investors have recently added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC boosted its holdings in shares of IDACORP by 5.1% during the 4th quarter. AssuredPartners Investment Advisors LLC now owns 1,653 shares of the energy company’s stock valued at $209,000 after buying an additional 80 shares in the last quarter. Harbour Investments Inc. grew its position 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 buying an additional 98 shares during the period. Sanctuary Advisors LLC increased its stake 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 in the last quarter. Quadrant Capital Group LLC increased its stake 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 in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in IDACORP by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 11,668 shares of the energy company’s stock valued at $1,477,000 after acquiring an additional 106 shares during the period. Institutional investors own 89.10% of the company’s stock.

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.