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

IDACORP, Inc. (NYSE:IDA) has been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $136.50.

Several equities analysts have recently issued reports on IDA shares. Mizuho raised their price target on shares of IDACORP from $129.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a report on Wednesday, October 8th. BTIG Research raised IDACORP to a “strong-buy” rating in a research report on Wednesday, October 22nd. Morgan Stanley set a $137.00 target price on IDACORP in a report on Thursday, November 20th. Finally, UBS Group reissued a “neutral” rating on shares of IDACORP in a research note on Tuesday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of IDACORP by 25.3% during the third quarter. Allworth Financial LP now owns 2,256 shares of the energy company’s stock worth $298,000 after buying an additional 455 shares during the period. Swiss Life Asset Management Ltd bought a new stake in shares of IDACORP during the 3rd quarter valued at about $331,000. CIBC Bancorp USA Inc. bought a new position in shares of IDACORP during the 3rd quarter worth approximately $365,000. Coldstream Capital Management Inc. boosted its stake in IDACORP by 12.2% during the third quarter. Coldstream Capital Management Inc. now owns 3,777 shares of the energy company’s stock worth $499,000 after acquiring an additional 412 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in IDACORP by 630.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 219 shares of the energy company’s stock worth $29,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.

IDACORP Stock Performance

Shares of IDA stock opened at $126.78 on Friday. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.70 and a beta of 0.61. The company has a current ratio of 1.09, a quick ratio of 0.82 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $131.40 and its 200-day moving average price is $124.54. IDACORP has a 12 month low of $104.74 and a 12 month high of $138.03.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, October 30th. The energy company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. IDACORP had a return on equity of 9.35% and a net margin of 17.59%.The company had revenue of $524.42 million during the quarter, compared to the consensus estimate of $663.09 million. During the same quarter in the prior year, the firm posted $2.12 earnings per share. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Equities research analysts forecast that IDACORP will post 5.81 EPS for the current year.

IDACORP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 5th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, November 5th. This represents a $3.52 dividend on an annualized basis and a yield of 2.8%. This is a boost from IDACORP’s previous quarterly dividend of $0.86. IDACORP’s payout ratio is currently 60.48%.

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.