IDACORP, Inc. (NYSE:IDA) to Issue Dividend Increase – $0.90 Per Share

IDACORP, Inc. (NYSE:IDA) declared a quarterly dividend on Thursday, October 15th. Investors of record on Thursday, November 5th will be paid a dividend of $0.90 per share by the energy company on Monday, November 30th. This represents a $3.60 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 5th. This is a 2.3% increase from IDACORP’s previous quarterly dividend of $0.88.

IDACORP has a dividend payout ratio of 55.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect IDACORP to earn $6.92 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 50.9%.

IDACORP Trading Down 0.2%

NYSE:IDA opened at $136.60 on Friday. The company has a fifty day moving average of $135.53 and a 200 day moving average of $141.72. IDACORP has a 52 week low of $124.12 and a 52 week high of $154.91. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $7.90 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.37 and a beta of 0.48.

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

Analyst Upgrades and Downgrades

IDA has been the topic of several recent analyst reports. Morgan Stanley cut their target price on IDACORP from $151.00 to $143.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Barclays lowered their price target on IDACORP from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Wall Street Zen upgraded IDACORP from a “sell” rating to a “hold” rating in a report on Sunday, September 6th. BTIG Research reiterated a “buy” rating and issued a $160.00 price objective on shares of IDACORP in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of IDACORP in a research note on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.86.

IDACORP Company Profile

IDACORP, Inc (NYSE: IDA) is an energy holding company headquartered in Boise, Idaho. Its principal subsidiary, Idaho Power Company, is a regulated electric utility that generates, purchases, transmits, distributes and sells electricity to residential, commercial, industrial and agricultural customers.

Idaho Power serves a broad territory covering southern Idaho and eastern Oregon. Its electricity supply portfolio includes hydroelectric generation, natural gas and other thermal resources, as well as power purchased from renewable and other third-party sources.