IDACORP (NYSE:IDA) Reaches New 52-Week High Following Analyst Upgrade

Shares of IDACORP, Inc. (NYSE:IDA) reached a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from $149.00 to $159.00. Barclays currently has an overweight rating on the stock. IDACORP traded as high as $146.07 and last traded at $145.4180, with a volume of 118570 shares trading hands. The stock had previously closed at $145.01.

A number of other brokerages also recently issued reports on IDA. UBS Group increased their price objective on shares of IDACORP from $134.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Morgan Stanley set a $155.00 price objective on shares of IDACORP in a research note on Friday, February 20th. Wells Fargo & Company downgraded shares of IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $129.00 to $118.00 in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of IDACORP in a research note on Thursday, January 22nd. Finally, BTIG Research reiterated a “buy” rating and set a $156.00 price objective on shares of IDACORP in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.25.

Insider Buying and Selling at IDACORP

In other news, VP Julia A. Hilton sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $142.79, for a total value of $142,790.00. Following the sale, the vice president directly owned 2,313 shares in the company, valued at approximately $330,273.27. This trade represents a 30.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On IDACORP

A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its stake in shares of IDACORP by 11.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,770 shares of the energy company’s stock valued at $730,000 after purchasing an additional 573 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of IDACORP by 55.0% in the 4th quarter. Corient Private Wealth LLC now owns 8,538 shares of the energy company’s stock valued at $1,081,000 after purchasing an additional 3,030 shares in the last quarter. Union Savings Bank acquired a new stake in shares of IDACORP in the 4th quarter valued at approximately $95,000. SHP Wealth Management acquired a new stake in shares of IDACORP in the 4th quarter valued at approximately $38,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of IDACORP by 134.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 513 shares of the energy company’s stock valued at $65,000 after purchasing an additional 294 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors and hedge funds.

IDACORP Trading Up 0.9%

The business’s 50 day moving average price is $140.51 and its two-hundred day moving average price is $133.77. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $8.03 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 2.81 and a beta of 0.54.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. The business had revenue of $405.24 million during the quarter, compared to analyst estimates of $533.06 million. IDACORP had a net margin of 17.84% and a return on equity of 9.36%. During the same quarter last year, the business earned $0.70 EPS. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. On average, equities analysts predict that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Thursday, February 5th were 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 was Thursday, February 5th. IDACORP’s dividend payout ratio (DPR) is 59.66%.

IDACORP Company Profile

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.