Brokerages Set IDACORP, Inc. (NYSE:IDA) Price Target at $154.57

IDACORP, Inc. (NYSE:IDA) has received an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $154.5714.

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on IDACORP from $154.00 to $155.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Mizuho set a $157.00 target price on shares of IDACORP in a report on Friday, May 1st. Barclays dropped their target price on shares of IDACORP from $167.00 to $162.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Morgan Stanley reissued an “overweight” rating and set a $156.00 price target on shares of IDACORP in a report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a research report on Monday, August 3rd.

IDACORP Trading Up 1.0%

Shares of IDA opened at $142.53 on Thursday. IDACORP has a 1 year low of $122.30 and a 1 year high of $154.91. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $146.09 and a 200-day simple moving average of $143.11. The stock has a market cap of $8.24 billion, a PE ratio of 23.60, a PEG ratio of 2.46 and a beta of 0.48.

IDACORP (NYSE:IDA) last posted its earnings results on Thursday, July 30th. The energy company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.78 by $0.01. IDACORP had a return on equity of 9.34% and a net margin of 18.78%.The business had revenue of $469.80 million during the quarter, compared to the consensus estimate of $511.87 million. During the same quarter last year, the company earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, sell-side analysts predict that IDACORP will post 6.39 EPS for the current fiscal year.

IDACORP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. IDACORP’s dividend payout ratio (DPR) is presently 58.28%.

Insider Activity

In other news, VP James Bo D. Hanchey sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $140.95, for a total value of $211,425.00. Following the transaction, the vice president directly owned 2,138 shares of the company’s stock, valued at $301,351.10. The trade was a 41.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On IDACORP

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Osterweis Capital Management Inc. acquired a new position in IDACORP in the second quarter worth $25,000. Torren Management LLC bought a new stake in shares of IDACORP during the fourth quarter worth $25,000. Western Wealth Management LLC acquired a new stake in shares of IDACORP in the first quarter valued at $29,000. Trust Co. of Vermont acquired a new stake in shares of IDACORP in the second quarter valued at $30,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of IDACORP in the second quarter valued at about $33,000. 89.10% of the stock is owned by institutional investors and hedge funds.

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.