FY2027 EPS Estimates for IDACORP Increased by Zacks Research

IDACORP, Inc. (NYSE:IDA) – Analysts at Zacks Research increased their FY2027 earnings estimates for shares of IDACORP in a research report issued on Tuesday, June 17th. Zacks Research analyst R. Department now expects that the energy company will earn $6.86 per share for the year, up from their previous estimate of $6.76. The consensus estimate for IDACORP’s current full-year earnings is $5.81 per share.

Several other research analysts have also recently weighed in on the stock. Bank of America boosted their price target on shares of IDACORP from $119.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Guggenheim raised their target price on shares of IDACORP from $121.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Wells Fargo & Company raised their target price on IDACORP from $121.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Jefferies Financial Group raised IDACORP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 2nd. Finally, Wall Street Zen cut IDACORP from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $122.86.

IDACORP Price Performance

IDACORP stock opened at $113.46 on Thursday. IDACORP has a 1 year low of $90.67 and a 1 year high of $120.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.44 and a current ratio of 1.81. The company’s fifty day moving average price is $116.01 and its 200 day moving average price is $113.62. The stock has a market capitalization of $6.13 billion, a P/E ratio of 20.15, a P/E/G ratio of 2.41 and a beta of 0.58.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, May 1st. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.07. IDACORP had a net margin of 16.61% and a return on equity of 9.13%. The firm had revenue of $432.46 million for the quarter, compared to analysts’ expectations of $442.24 million. During the same quarter in the prior year, the business earned $0.95 EPS.

Institutional Trading of IDACORP

A number of large investors have recently bought and sold shares of IDA. Van ECK Associates Corp lifted its stake in IDACORP by 14.2% in the fourth quarter. Van ECK Associates Corp now owns 16,550 shares of the energy company’s stock valued at $1,809,000 after buying an additional 2,056 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of IDACORP during the fourth quarter worth about $362,000. Empowered Funds LLC bought a new position in IDACORP in the fourth quarter valued at approximately $210,000. Envestnet Portfolio Solutions Inc. grew its stake in IDACORP by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,641 shares of the energy company’s stock valued at $616,000 after purchasing an additional 132 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of IDACORP by 18.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,127 shares of the energy company’s stock valued at $670,000 after buying an additional 971 shares during the last quarter. 89.10% of the stock is currently owned by institutional investors.

IDACORP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 5th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 3.03%. IDACORP’s dividend payout ratio (DPR) is presently 61.10%.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.