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

IDACORP, Inc. (NYSE:IDA) has been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $138.1111.

Several brokerages recently weighed in on IDA. Morgan Stanley reaffirmed an “overweight” rating and set a $146.00 target price on shares of IDACORP in a research note on Wednesday. Wells Fargo & Company downgraded shares of IDACORP from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $129.00 to $118.00 in a research note on Tuesday. Barclays assumed coverage on IDACORP in a research note on Wednesday, January 14th. They issued an “overweight” rating and a $144.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $152.00 target price on shares of IDACORP in a report on Monday, December 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of IDACORP in a report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IDA. Teacher Retirement System of Texas lifted its holdings in IDACORP by 21.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,318 shares of the energy company’s stock worth $1,191,000 after buying an additional 1,834 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of IDACORP by 26.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,558 shares of the energy company’s stock worth $1,219,000 after acquiring an additional 2,178 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of IDACORP during the 3rd quarter worth about $21,486,000. Bahl & Gaynor Inc. purchased a new stake in IDACORP during the second quarter worth approximately $577,000. Finally, Envestnet Asset Management Inc. boosted its holdings in IDACORP by 8.2% in the second quarter. Envestnet Asset Management Inc. now owns 185,762 shares of the energy company’s stock valued at $21,446,000 after purchasing an additional 14,145 shares in the last quarter. Hedge funds and other institutional investors own 89.10% of the company’s stock.

IDACORP Stock Down 1.3%

NYSE:IDA opened at $132.02 on Friday. IDACORP has a 52 week low of $107.64 and a 52 week high of $138.03. The stock’s fifty day moving average is $128.45 and its two-hundred day moving average is $127.79. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 2.57 and a beta of 0.61. The company has a quick ratio of 0.82, a current ratio of 1.09 and a debt-to-equity ratio of 0.95.

IDACORP (NYSE:IDA) last posted 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 firm had revenue of $524.42 million for the quarter, compared to the consensus estimate of $663.09 million. During the same quarter in the previous year, the business earned $2.12 EPS. IDACORP has set its FY 2025 guidance at 5.800-5.900 EPS. Research analysts anticipate that IDACORP will post 5.81 EPS for the current year.

IDACORP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Thursday, February 5th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Thursday, February 5th. IDACORP’s dividend payout ratio is presently 60.48%.

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.