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

Shares of IDACORP, Inc. (NYSE:IDA) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $155.1429.

Several equities analysts have recently commented on the company. Wall Street Zen raised IDACORP from a “strong sell” rating to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th. BTIG Research reiterated a “buy” rating and set a $160.00 target price on shares of IDACORP in a report on Thursday. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $121.00 to $154.00 in a research report on Tuesday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $156.00 target price on shares of IDACORP in a report on Wednesday.

IDACORP Price Performance

NYSE IDA opened at $148.80 on Friday. 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 cap of $8.24 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48. The stock’s 50-day moving average is $145.27 and its two-hundred day moving average is $141.83. IDACORP has a fifty-two week low of $120.52 and a fifty-two week high of $154.91.

IDACORP (NYSE:IDA) last announced 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. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $403.41 million during the quarter, compared to the consensus estimate of $437.51 million. During the same quarter in the prior year, the company earned $1.10 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, analysts anticipate that IDACORP will post 6.39 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Wednesday, August 5th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 5th. IDACORP’s dividend payout ratio is 58.57%.

Insider Buying and Selling

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the firm’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 transaction of $211,425.00. Following the sale, the vice president owned 2,138 shares of the company’s stock, valued at approximately $301,351.10. This trade represents a 41.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Tema ETFs LLC raised its stake in IDACORP by 66.5% during the 2nd quarter. Tema ETFs LLC now owns 196,574 shares of the energy company’s stock worth $29,742,000 after acquiring an additional 78,540 shares in the last quarter. LVM Capital Management Ltd. MI boosted its stake in IDACORP by 1.1% in the second quarter. LVM Capital Management Ltd. MI now owns 129,107 shares of the energy company’s stock valued at $19,534,000 after acquiring an additional 1,396 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of IDACORP during the second quarter worth about $204,000. Fulton Bank N.A. lifted its holdings in shares of IDACORP by 10.1% in the 2nd quarter. Fulton Bank N.A. now owns 5,683 shares of the energy company’s stock valued at $860,000 after purchasing an additional 522 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of IDACORP by 28.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 13,390 shares of the energy company’s stock valued at $2,026,000 after purchasing an additional 2,933 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

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.