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

IDACORP, Inc. (NYSE:IDA) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $155.1429.

IDA has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded IDACORP from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $121.00 to $154.00 in a research note on Tuesday. Mizuho set a $157.00 target price on shares of IDACORP in a research note on Friday, May 1st. Wall Street Zen upgraded shares of IDACORP from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 12th. Barclays upped their price target 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, Weiss Ratings raised shares of IDACORP from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th.

IDACORP Trading Up 0.5%

IDA opened at $149.44 on Friday. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 24.87, a P/E/G ratio of 2.96 and a beta of 0.48. The stock’s 50 day moving average price is $145.09 and its 200-day moving average price is $141.78. IDACORP has a one year low of $120.52 and a one year high of $154.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.95 and a current ratio of 1.21.

IDACORP (NYSE:IDA) last issued its quarterly earnings results on Thursday, April 30th. The energy company reported $1.21 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate 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. On average, equities analysts forecast that IDACORP will post 6.39 EPS for the current year.

IDACORP Announces Dividend

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

Insider Activity at IDACORP

In other 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 transaction, the vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Torren Management LLC purchased a new position in IDACORP during the 4th quarter worth $25,000. Western Wealth Management LLC purchased a new stake in shares of IDACORP in the 1st quarter worth $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of IDACORP by 630.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after buying an additional 189 shares during the period. Measured Wealth Private Client Group LLC bought a new position in shares of IDACORP during the 3rd quarter worth $34,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of IDACORP during the 4th quarter worth $35,000. Institutional investors 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.